Google-parent Alphabet has become the first company in the world to report more than $100 billion in quarterly profit, setting a new corporate record. In its second-quarter earnings released on July 22, the company posted a net income of $112.1 billion, nearly four times higher than a year ago. According to Fortune, the figure is more profit in three months than 459 Fortune 500 companies generate in total annual revenue. Helped by an 82% jump in Google Cloud revenue, Alphabet's revenue rose 24% year over year to $119.8 billion. more profit in three months than 459 Fortune 500 companies generate in total annual revenue. Helped by an 82% jump in Google Cloud revenue, Alphabet's revenue rose 24% year over year to $119.8 billion.