Alphabet Inc. (GOOGL) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2016

Exhibit 99.1

Alphabet Announces Fourth Quarter and Fiscal Year 2016 Results

MOUNTAIN VIEW, Calif. – January 26, 2017 – Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter and fiscal year ended December 31, 2016.

"Our growth in the fourth quarter was exceptional -- with revenues up 22% year on year and 24% on a constant currency basis. This performance was led by mobile search and YouTube. We’re seeing great momentum in Google’s newer investment areas and ongoing strong progress in Other Bets," said Ruth Porat, CFO of Alphabet.

Q4 2016 financial highlights

The following summarizes our consolidated financial results for the quarters ended December 31, 2015 and 2016 (in millions, except for per share information; unaudited):



	Three Months Ended December 31, 2015			Three Months Ended December 31, 2016
Revenues		$21,329			$26,064
Increase in revenues year over year	18		%	22		%
Increase in constant currency revenues year over year	24		%	24		%

GAAP operating income		$5,380			$6,639
GAAP operating margin	25		%	25		%
Non-GAAP operating income		$6,816			$8,485
Non-GAAP operating margin	32		%	33		%

GAAP net income		$4,923			$5,333
Non-GAAP net income		$6,043			$6,593

GAAP diluted EPS for Class A and B common stock and Class C capital stock		$7.06			$7.56
Non-GAAP diluted EPS for Class A and B common stock and Class C capital stock		$8.67			$9.36
Diluted shares (in thousands)	697,025			700,221

Operating income, operating margin, net income, and diluted earnings per share (EPS) are reported on a GAAP and non-GAAP basis. Non-GAAP operating income and non-GAAP operating margin exclude stock-based compensation (SBC) expense. Non-GAAP net income and non-GAAP diluted EPS exclude SBC expense, net of the SBC related tax benefits. These non-GAAP measures, free cash flow (an alternative non-GAAP measure of liquidity), and non-GAAP constant currency revenues and growth are described and reconciled to the corresponding GAAP measures at the end of this release.

The following summarizes our segment results where Google is presented as a single segment and all other Alphabet businesses are combined as Other Bets (in millions; unaudited):



	Three Months Ended December 31, 2015			Three Months Ended December 31, 2016
Google segment revenues		$21,179			$25,802
Google operating income		$6,744			$7,883

Other Bets revenues		$150			$262
Other Bets operating loss		($1,213	)		($1,088	)

The following information was filed by Alphabet Inc. (GOOGL) on Thursday, January 26, 2017 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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