Alphabet Inc. (GOOGL) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2019

Exhibit 99.1

Alphabet Announces Third Quarter 2019 Results

MOUNTAIN VIEW, Calif. – October 28, 2019 – Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter ended September 30, 2019.

“I am extremely pleased with the progress we made across the board in the third quarter, from our recent advancements in search and quantum computing to our strong revenue growth driven by mobile search, YouTube and Cloud,” said Sundar Pichai, Chief Executive Officer of Google. “We’re focused on providing the most helpful services to our users and partners, and we see many opportunities ahead.”

“Our businesses delivered another quarter of strong performance, with revenues of $40.5 billion, up 20% versus the third quarter of 2018 and up 22% on a constant currency basis,” said Ruth Porat, Chief Financial Officer of Alphabet and Google. “We continue to invest thoughtfully in talent and infrastructure to support our growth, particularly in newer areas like Cloud and machine learning.”

Q3 2019 financial highlights

The following table summarizes our consolidated financial results for the quarters ended September 30, 2018 and 2019 (in millions, except for per share information, percentages, and number of employees; unaudited):



	Three Months Ended September 30, 2018			Three Months Ended September 30, 2019
Revenues		$33,740			$40,499
Increase in revenues year over year	21		%	20		%
Increase in constant currency revenues year over year	22		%	22		%

Operating income⁽¹⁾		$8,625			$9,177
Operating margin⁽¹⁾	26		%	23		%

Other income (expense), net⁽¹⁾		$1,458			($549	)

Net income		$9,192			$7,068
Diluted EPS		$13.06			$10.12
Diluted shares (in thousands)	703,859			698,199

Effective tax rate	9		%	18		%
Number of employees	94,372			114,096


⁽¹⁾	Q3 2018 results have been recast to reflect the reclassification of performance fees from general and administrative expenses to other income (expense), net (OI&E) to conform to the current period presentation.

Q3 2019 supplemental information (in millions, except for percentages; unaudited)

Segment revenues and operating results



	Three Months Ended September 30, 2018			Three Months Ended September 30, 2019
Google properties revenues		$24,054			$28,647
Google Network Members' properties revenues	4,900			5,269
Google advertising revenues	28,954			33,916
Google other revenues	4,640			6,428
Google segment revenues		$33,594			$40,344
Other Bets revenues		$146			$155

Google operating income		$9,490			$10,865
Other Bets operating loss		($727	)		($941	)

The following information was filed by Alphabet Inc. (GOOGL) on Monday, October 28, 2019 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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