Alphabet Inc. (GOOGL) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2019

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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