Alphabet’s GOOGL extends 111.46% surge as Q1 revenue hits $109.9 billion and Cloud backlog reaches $462 billion

Alphabet posted Q1 revenue of $109.9 billion, up 22% year over year, extending its streak of double-digit growth to 11 straight quarters. Google Cloud revenue rose 63% year over year to more than $20 billion, while backlog reached $462 billion, with management expecting more than half to be recognized as revenue over the next two years. Revenue from products built on its generative AI models jumped nearly 800% year over year, and Gemini Enterprise saw strong growth in paid users alongside a rise in large enterprise deals, including multiple contracts worth more than $1 billion.