Exhibit 99.1

Alphabet Announces Fourth Quarter and Fiscal Year 2019 Results
MOUNTAIN VIEW, Calif. – February 3, 2020 – Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter and fiscal year ended December 31, 2019.
“Our investments in deep computer science, including artificial intelligence, ambient computing and cloud computing, provide a strong base for continued growth and new opportunities across Alphabet,” said Sundar Pichai, Chief Executive Officer of Alphabet and Google. “I’m really pleased with our continued progress in Search and in building two of our newer growth areas — YouTube, already at $15 billion in annual ad revenue, and Cloud, which is now on a $10 billion revenue run rate."
“In 2019 we again delivered strong revenue growth, with revenues of $162 billion, up 18% year over year and up 20% on a constant currency basis,” said Ruth Porat, Chief Financial Officer of Alphabet and Google. “To provide further insight into our business and the opportunities ahead, we’re now disclosing our revenue on a more granular basis, including for Search, YouTube ads and Cloud.”
Expanded revenue disclosures
The table below shows our expanded revenue disclosures for the quarters ended December 31, 2018 and 2019 and the years ended December 31, 2017, 2018 and 2019 (in millions, unaudited):
 
 
Q4
 
 
Fiscal Year
 
 
 
2018
 
2019
 
 
2017
 
2018
 
2019
 
 
Google Search & other

$23,320

 

$27,185

 
 

$69,811

 

$85,296

 

$98,115

 
 
YouTube ads(1)
3,605

 
4,717

 
 
8,150

 
11,155

 
15,149

 
 
Google properties
26,925

 
31,902

 
 
77,961

 
96,451

 
113,264

 
 
Google Network Members' properties
5,593

 
6,032

 
 
17,616

 
20,010

 
21,547

 
 
Google advertising
32,518

 
37,934

 
 
95,577

 
116,461

 
134,811

 
 
Google Cloud
1,709

 
2,614

 
 
4,056

 
5,838

 
8,918

 
 
Google other(1)
4,771

 
5,264

 
 
10,914

 
14,063

 
17,014

 
 
Google revenues
38,998

 
45,812

 
 
110,547

 
136,362

 
160,743

 
 
Other Bets revenues
154

 
172

 
 
477

 
595

 
659

 
 
Hedging gains (losses)(2)
124

 
91

 
 
(169
)
 
(138
)
 
455

 
 
Total revenues

$39,276

 

$46,075

 
 

$110,855

 

$136,819

 

$161,857

 
 
(1)     YouTube non-advertising revenues are included in Google other revenues.
 
 
(2)     Hedging gains (losses) were previously included in Google revenues.
 
Q4 and full year 2018 and 2019 financial highlights
The following table summarizes our consolidated financial results for the quarters and years ended December 31, 2018 and 2019 (in millions, except for per share information and percentages; unaudited):
 
Quarter Ended
December 31,
 
Year Ended
December 31,
 
2018
 
2019
 
2018
 
2019
Revenues

$39,276

 

$46,075

 

$136,819

 

$161,857

Increase in revenues year over year
22
%
 
17
%
 
23
%
 
18
%
Increase in constant currency revenues year over year
23
%
 
19
%
 
22
%
 
20
%
 
 
 
 
 
 
 
 
Operating income

$8,221

 

$9,266

 

$27,524

 

$34,231

Operating margin
21
%
 
20
%
 
20
%
 
21
%
 
 
 
 
 
 
 
 
Other income (expense), net

$1,851

 

$1,438

 

$7,389

 

$5,394

 
 
 
 
 
 
 
 
Net income(1)

$8,948

 

$10,671

 

$30,736

 

$34,343

Diluted EPS

$12.77

 

$15.35

 

$43.70

 

$49.16

(1)
Included in net income is the provision for income taxes. Our effective tax rate was 12% and 13% for the years ended December 31, 2018 and 2019, respectively, and was 11% and 0% (reflective of discrete items, including the resolution of multi-year audits) for the quarters ended December 31, 2018 and 2019, respectively.


The following information was filed by Alphabet Inc. (GOOGL) on Monday, February 3, 2020 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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