Alphabet Inc. (GOOGL) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 31, 2017

Exhibit 99.1

Alphabet Announces Fourth Quarter and Fiscal Year 2017 Results

MOUNTAIN VIEW, Calif. – February 1, 2018 – Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter and fiscal year ended December 31, 2017.

"Our business is driving great growth, with 2017 revenues of $110.9 billion, up 23% year on year, and fourth quarter revenues of $32.3 billion, up 24% year on year. Our full year operating income growth continues to underscore our core strength, and on top of this, we continue to make substantial investments for the long-term in exciting new businesses," said Ruth Porat, CFO of Alphabet.

Q4 2017 financial highlights

In order to facilitate comparison of current quarter performance to prior periods, this summary table highlights the impact of the U.S. Tax Cuts and Jobs Act (Tax Act):



Q4 2017 summary results reflecting the impact of the Tax Act
	Including (GAAP) .			Excluding
Revenues		$32,323			$32,323
Operating income		$7,664			$7,664
Provision for income taxes		$11,038			$1,181
Net (loss) income		($3,020	)		$6,837
Effective tax rate	138		%	15		%
Diluted EPS		($4.35	)		$9.70

The following summarizes our consolidated financial results for the quarters ended December 31, 2016 and 2017 (in millions, except for per share information, effective tax rate, and number of employees; unaudited), reported on a GAAP basis including the impact of the Tax Act (except for constant currency revenues information):



	Three Months Ended December 31, 2016			Three Months Ended December 31, 2017
Revenues		$26,064			$32,323
Increase in revenues year over year	22		%	24		%
Increase in constant currency revenues year over year	24		%	24		%

Operating income		$6,639			$7,664
Operating margin	25		%	24		%

Net income (loss)		$5,333			($3,020	)
Diluted EPS		$7.56			($4.35	)
Diluted shares (in thousands)	700,221			694,604

Effective tax rate	22		%	138		%
Number of employees	72,053			80,110

The following information was filed by Alphabet Inc. (GOOGL) on Thursday, February 1, 2018 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.

View differences made from one year to another to evaluate Alphabet Inc.'s financial trajectory

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Alphabet Inc.

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Inside Alphabet Inc.'s 10-K Annual Report:

Revenue - Product Highlight
Our EMEA revenues from 2016 to 2017 were unfavorably impacted, primarily as a result of an unfavorable impact from hedging losses, slightly offset by a favorable impact from foreign currency exchange rates.

Financial - Expense Highlight
The costs of our foreign exchange hedging activities recognized in other income expense, net, are primarily a function of the notional amount of the option and forward contracts and their related duration, the movement of foreign exchange rates relative to the contract prices, the volatility of foreign exchange rates and forward points.
Financial - Earnings Highlight
Our future effective tax rate could be adversely affected by earnings being lower than anticipated in countries that have lower statutory rates and higher than anticipated in countries that have higher statutory rates, the net gains and losses recognized by legal entities on certain hedges and related hedged intercompany and other transactions under our foreign exchange risk management program, changes in the valuation of our deferred tax assets or liabilities, or changes in tax laws, regulations, or accounting principles, as well as certain discrete items.
Revenue - Product Highlight
The portion of our revenues that we derive from non-advertising revenues is increasing and may impact margins.
Revenue - Product Highlight
Our revenues from Other Americas from 2015 to 2016 were unfavorably impacted, primarily as a result of an unfavorable impact from foreign currency exchange rates, slightly offset by a favorable impact from hedging benefits.
Financial - Income
This increase was primarily driven...Read more
Financial - Expense
In addition, there was an...Read more
Revenue - Product
Our EMEA revenues from 2015...Read more
Revenue - Product
Net cash used in investing...Read more
Revenue - Product
These seasonal trends have caused,...Read more
Legal - Other
We evaluate, on a regular...Read more
Financial - Expense
The increase was primarily due...Read more
Financial - Expense
The increase was primarily due...Read more
Revenue - Product
The increase was primarily driven...Read more
Financial - Expense
The increase was primarily due...Read more
Revenue - Product
A number of our Other...Read more
Revenue - Product
Our international revenues are favorably...Read more
Revenue - Product
We also experienced growth in...Read more
Financial - Expense
The increase in other cost...Read more
M & A - Other
Net cash used in investing...Read more
Revenue - Product
The increase was primarily driven...Read more
Revenue - Product
growth rates of revenues from...Read more
Financial - Cash Flow
Additionally, the timing of tax...Read more
Revenue - Product
These increases were primarily driven...Read more
Other - Other
The number of paid clicks...Read more
Financial - Expense
In addition, there was an...Read more
Other - Other
Represents one-time transition tax payable...Read more
Financial - Income
If any impairment is considered...Read more
Financial - Debt
For marketable debt securities, we...Read more
Revenue - Product
The increase in the aggregate...Read more
Revenue - Product
the growth in revenues from...Read more
Revenue - Product
The continuing shift from an...Read more
Other - Other
The number of paid clicks...Read more
Revenue - Product
Relative revenue growth rates of...Read more
Financial - Expense
General and administrative expenses decreased...Read more
Other - Other
The growth was primarily driven...Read more
Revenue - Geography
The foreign exchange impact was...Read more
Financial - Expense
The increase was primarily due...Read more
Financial - Expense
The increase was primarily due...Read more
Financial - Expense
Inventory related costs for hardware...Read more
Financial - Expense
, as well as increases...Read more
Financial - Expense
R&D expenses increased $2,677 million...Read more
Financial - Expense
R&D expenses increased $1,666 million...Read more
Financial - Expense
General and administrative expenses increased...Read more
Revenue - Product
Net cash provided by operating...Read more
Financial - Expense
In addition, there was an...Read more
Financial - Expense
Cost of revenues increased $6,974...Read more
Revenue - Product
There was also an increase...Read more
M & A - Other
of assets acquired and liabilities...Read more
Financial - Expense
Compensation expenses, including SBC, and...Read more
Financial - Cash Flow
An impairment loss would be...Read more
Financial - Earnings
The margins on these non-advertising...Read more
Revenue - Product
Our Google other revenues increased...Read more
Revenue - Product
Our Google Network Members properties...Read more
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Our Google Network Members properties...Read more
Revenue - Product
Our Google properties revenues increased...Read more
Revenue - Product
Our Other Bets revenues increased...Read more
Other - Other
Although we believe we have...Read more
Revenue - Geography
Effective in 2018, the Tax...Read more
Revenue - Geography
Effective in 2018, the Tax...Read more
Revenue - Product
As users in developing economies...Read more
Financial - Expense
The cost of revenues related...Read more
Revenue - Product
Our Google properties revenues increased...Read more
Revenue - Product
Our Google other revenues increased...Read more
Revenue - Product
Our Other Bets revenues increased...Read more
Other - Other
In some cases, we could...Read more
M & A - Other
We believe that our sources...Read more
Other - Other
We also experienced growth in...Read more
Other - Other
At this time, we are...Read more
Revenue - Product
Google segment revenues of $109.7...Read more
Revenue - Geography
The growth was partially offset...Read more
Revenue - Geography
The growth was partially offset...Read more
Revenue - Geography
On December 22, 2017, the...Read more
Other - Other
Effective tax rate was 53%....Read more
Financial - Income
We expect that other income...Read more
Revenue - Product
Users are increasingly using multiple...Read more
Financial - Expense
The decrease in cost-per-click paid...Read more
Financial - Debt
Net cash used in financing...Read more
Revenue - Product
The increase in TAC to...Read more
Financial - Income
Those adjustments may materially impact...Read more
Other - Other
Our employees are among our...Read more
Revenue - Geography
was due to the U.S....Read more

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Income
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income (parenthetical)
Consolidated Statements Of Stockholders' Equity
Consolidated Statements Of Cash Flows
Nature Of Operations And Summary Of Significant Accounting Policies
Revenues
Financial Instruments
Non-marketable Investments
Variable Interest Entities (vies)
Debt
Supplemental Financial Statement Information
Acquisitions
Goodwill And Other Intangible Assets
Commitments And Contingencies
Stockholders' Equity
Net Income Per Share
Compensation Plans
Income Taxes
Information About Segments And Geographic Areas
Schedule Ii: Valuation And Qualifying Accounts
Nature Of Operations And Summary Of Significant Accounting Policies (policies)
Revenues (tables)
Financial Instruments (tables)
Non-marketable Investments (tables)
Debt (tables)
Supplemental Financial Statement Information (tables)
Goodwill And Other Intangible Assets (tables)
Commitments And Contingencies (tables)
Net Income Per Share (tables)
Compensation Plans (tables)
Income Taxes (tables)
Information About Segments And Geographic Areas (tables)
Nature Of Operations And Summary Of Significant Accounting Policies (narrative) (details)
Revenues (narrative) (details)
Revenues (revenue By Segment) (details)
Revenues (revenue By Geographic Location) (details)
Financial Instruments (cash, Cash Equivalents And Marketable Securities Measured At Adjusted Cost, Gross Unrealized Gains, Gross Unrealized Losses, And Fair Value By Significant Investment Category) (details)
Non-marketable Investments (narrative) (details)
Financial Instruments (narrative) (details)
Non-marketable Investments (non-marketable Debt Securities) (details)
Financial Instruments (contractual Maturity Date Of Marketable Debt Securities) (details)
Financial Instruments (gross Unrealized Losses And Fair Values For Investments In Unrealized Loss Position) (details)
Financial Instruments (fair Values Of Outstanding Derivative Instruments) (details)
Financial Instruments (effect Of Derivative Instruments On Income And Accumulated Other Comprehensive Income) (details)
Financial Instruments (offsetting Of Financial Assets And Financial Liabilities) (details)
Variable Interest Entities (vies) (narrative) (details)
Debt (narrative) (details)
Debt (long-term Debt) (details)
Debt (future Principal Payments For Borrowings) (details)
Supplemental Financial Statement Information (property And Equipment) (details)
Supplemental Financial Statement Information (note Receivable) (details)
Supplemental Financial Statement Information (accrued Expenses And Other Current Liabilities) (details)
Supplemental Financial Statement Information (components Of Accumulated Other Comprehensive Income) (details)
Supplemental Financial Statement Information (reclassifications Out Of Accumulated Other Comprehensive Income (loss)) (details)
Supplemental Financial Statement Information (components Of Other Income (expense), Net) (details)
Acquisitions (narrative) (details)
Goodwill And Other Intangible Assets (changes In Carrying Amount Of Goodwill) (details)
Goodwill And Other Intangible Assets (acquisition-related Intangible Assets That Are Being Amortized) (details)
Goodwill And Other Intangible Assets (narrative) (details)
Goodwill And Other Intangible Assets (expected Amortization Expense For Acquisition-related Intangible Assets) (details)
Commitments And Contingencies (future Minimum Payments Under Non-cancelable Operating Leases, Along With Sublease Income Amounts) (details)
Commitments And Contingencies (narrative) (details)
Stockholders' Equity (narrative) (details)
Net Income Per Share (schedule Of Earnings Per Share) (details)
Compensation Plans (stock Plans) (details)
Compensation Plans (stock Based Compensation) (details)
Compensation Plans (stock Based Award Activities) (details)
Compensation Plans (401k) (details)
Income Taxes (narrative) (details)
Income Taxes (provision For Income Taxes) (details)
Income Taxes (reconciliation Of Federal Statutory Income Tax Rate To Effective Income Tax Rate) (details)
Income Taxes (significant Components Of Deferred Tax Assets And Liabilities) (details)
Income Taxes (summary Of Activity Related To Gross Unrecognized Tax Benefits) (details)
Information About Segments And Geographic Areas (revenue By Segment) (details)
Information About Segments And Geographic Areas (operating Income/loss By Segment) (details)
Information About Segments And Geographic Areas (capital Expenditures By Segment) (details)
Information About Segments And Geographic Areas (stock-based Compensation And Depreciation, Amortization And Impairment By Segment) (details)
Information About Segments And Geographic Areas (long-lived Assets By Geographic Area) (details)
Schedule Ii: Valuation And Qualifying Accounts (details)

Material Contracts, Statements, Certifications & more

Alphabet Inc. provided additional information to their SEC Filing as exhibits

Form Type: 10-K Annual Report
Accession Number: 0001652044-18-000007
Submitted to the SEC: Mon Feb 05 2018 8:46:29 PM EST
Accepted by the SEC: Tue Feb 06 2018
Period: Sunday, December 31, 2017
Industry: Computer Programming Data Processing