Alphabet Inc. (GOOGL) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

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Alphabet Inc.
Ticker: GOOGL CIK: 1652044

Exhibit 99.1

Alphabet Announces Fourth Quarter and Fiscal Year 2020 Results

MOUNTAIN VIEW, Calif. – February 2, 2021 – Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter and fiscal year ended December 31, 2020.

Sundar Pichai, CEO of Google and Alphabet, said: “Our strong results this quarter reflect the helpfulness of our products and services to people and businesses, as well as the accelerating transition to online services and the cloud. Google succeeds when we help our customers and partners succeed, and we see significant opportunities to forge meaningful partnerships as businesses increasingly look to a digital future.”

Ruth Porat, CFO of Google and Alphabet, said: “Our strong fourth quarter performance, with revenues of $56.9 billion, was driven by Search and YouTube, as consumer and business activity recovered from earlier in the year. Google Cloud revenues were $13.1 billion for 2020, with significant ongoing momentum, and we remain focused on delivering value across the growth opportunities we see.”

New reporting segment structure and operating results

We are now reporting results for three segments: Google Services, Google Cloud, and Other Bets. The following table presents segment revenues and operating income (loss) under our new reporting segment structure for the quarters ended December 31, 2019 and 2020 and the years ended December 31, 2018, 2019 and 2020 (in millions; unaudited).


	Quarter				Fiscal Year
	Q4 2019		Q4 2020		2018		2019		2020
Revenues:
Google Services	$	43,198	$	52,873	$	130,524	$	151,825	$	168,635
Google Cloud	2,614		3,831		5,838		8,918		13,059
Other Bets	172		196		595		659		657
Hedging gains (losses)	91		(2)		(138)		455		176
Total revenues	$	46,075	$	56,898	$	136,819	$	161,857	$	182,527

	Quarter				Fiscal Year
	Q4 2019		Q4 2020		2018		2019		2020
Operating income (loss):
Google Services	$	13,488	$	19,066	$	43,137	$	48,999	$	54,606
Google Cloud	(1,194)		(1,243)		(4,348)		(4,645)		(5,607)
Other Bets	(2,026)		(1,136)		(3,358)		(4,824)		(4,476)
Corporate costs, unallocated(1)	(1,002)		(1,036)		(7,907)		(5,299)		(3,299)
Total income from operations	$	9,266	$	15,651	$	27,524	$	34,231	$	41,224
(1)Corporate costs, unallocated for fiscal year 2018 includes a fine of $5.1 billion and fiscal year 2019 includes a fine and a legal settlement totaling $2.3 billion.

For a description of our segments and unallocated corporate costs, refer to “Segment results” in this earnings release.

The following information was filed by Alphabet Inc. (GOOGL) on Tuesday, February 2, 2021 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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