Exhibit 99.1

Alphabet Announces Second Quarter 2017 Results
MOUNTAIN VIEW, Calif. – July 24, 2017 – Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter ended June 30, 2017.
"With revenues of $26 billion, up 21% versus the second quarter of 2016 and 23% on a constant currency basis, we're delivering strong growth with great underlying momentum, while continuing to make focused investments in new revenue streams," said Ruth Porat, CFO of Alphabet.
Q2 2017 financial highlights
In order to facilitate comparison of current quarter performance to prior periods, this summary table highlights the impact of the $2.7 billion European Commission (EC) fine, which was accrued in Q2 2017:
Q2 2017 summary results reflecting EC fine
 
Including
(GAAP) .

 
Excluding

Revenues

$26,010

 

$26,010

Operating income

$4,132

 

$6,868

Net income

$3,524

 

$6,260

Diluted EPS

$5.01

 

$8.90

The following summarizes our consolidated financial results for the quarters ended June 30, 2016 and 2017 (in millions, except for per share information, effective tax rate, and headcount; unaudited), reported on a GAAP basis including the impact of the EC fine:
 
Three Months Ended June 30, 2016
 
Three Months Ended June 30, 2017
Revenues

$21,500

 

$26,010

Increase in revenues year over year
21
%
 
21
%
Increase in constant currency revenues year over year
25
%
 
23
%
 
 
 
 
Operating income

$5,968

 

$4,132

Operating margin
28
%
 
16
%
 
 
 
 
Net income

$4,877

 

$3,524

Diluted EPS

$7.00

 

$5.01

Diluted shares (in thousands)
696,847

 
703,503

 
 
 
 
Effective tax rate (ETR)
20
%
 
19
%
Headcount
66,575

 
75,606



The following information was filed by Alphabet Inc. (GOOGL) on Monday, July 24, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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