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

Home SEC Filings Alphabet Inc. (GOOGL) 10-K Annual Report Tue Feb 06 2018
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.

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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

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