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Exhibit 99.1
Alphabet Announces Fourth Quarter and Fiscal Year 2018 Results
MOUNTAIN VIEW, Calif. – February 4, 2019 – Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter and fiscal year ended December 31, 2018.
"In 2018 we delivered strong revenue growth, up 23% year over year to $136.8 billion, and up 22% for the fourth quarter to $39.3 billion," said Ruth Porat, Chief Financial Officer of Alphabet and Google. "With great opportunities ahead, we continue to make focused investments in the talent and infrastructure needed to bring exceptional products and experiences to our users, advertisers and partners around the globe."
Q4 2018 financial highlights
The following summarizes our consolidated financial results for the quarters ended December 31, 2017 and 2018 (in millions, except for per share information, percentages, and number of employees; unaudited):
Three Months Ended December 31, 2017(1) | Three Months Ended December 31, 2018 | ||||||
Revenues | $32,323 | $39,276 | |||||
Increase in revenues year over year | 24 | % | 22 | % | |||
Increase in constant currency revenues year over year | 24 | % | 23 | % | |||
Operating income | $7,664 | $8,203 | |||||
Operating margin | 24 | % | 21 | % | |||
Other income (expense), net | $354 | $1,869 | |||||
Net income (loss) | ($3,020 | ) | $8,948 | ||||
Diluted EPS | ($4.35 | ) | $12.77 | ||||
Diluted shares (in thousands) | 694,604 | 700,899 | |||||
Effective tax rate | 138 | % | 11 | % | |||
Number of employees | 80,110 | 98,771 | |||||
(1) | The Tax Act was enacted on December 22, 2017 and resulted in additional tax expense of $9.9 billion in the fourth quarter of 2017 primarily due to the one-time transition tax on accumulated foreign subsidiary earnings and deferred tax effects. |
Q4 2018 supplemental information (in millions, except for EPS and percentages; unaudited)
Segment revenues and operating results
Three Months Ended December 31, 2017 | Three Months Ended December 31, 2018 | ||||||
Google properties revenues | $22,237 | $27,022 | |||||
Google Network Members' properties revenues | 4,990 | 5,613 | |||||
Google advertising revenues | 27,227 | 32,635 | |||||
Google other revenues | 4,965 | 6,487 | |||||
Google segment revenues | $32,192 | $39,122 | |||||
Other Bets revenues | $131 | $154 | |||||
Google operating income | $8,595 | $9,700 | |||||
Other Bets operating loss | ($748 | ) | ($1,328 | ) | |||
The following information was filed by Alphabet Inc. (GOOGL) on Monday, February 4, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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