Alphabet (GOOG) (GOOGL) Misses Q4 EPS by 26c, Revs Beat
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Alphabet (NASDAQ: GOOG) reported Q4 EPS of $9.70, $0.26 worse than the analyst estimate of $9.96. Revenue for the quarter came in at $31.91 billion versus the consensus estimate of $31.85 billion.
"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 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 |
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 |
Three Months Ended December 31, 2016 | Three Months Ended December 31, 2017 | ||||||
Google properties revenues | $17,968 | $22,237 | |||||
Google Network Members' properties revenues | 4,431 | 4,990 | |||||
Google advertising revenues | 22,399 | 27,227 | |||||
Google other revenues | 3,403 | 4,687 | |||||
Google segment revenues | $25,802 | $31,914 | |||||
Other Bets revenues | $262 | $409 | |||||
Google operating income | $7,883 | $8,763 | |||||
Other Bets operating loss | ($1,088 | ) | ($916 | ) |
Three Months Ended December 31, 2016 | Three Months Ended December 31, 2017 | ||||||
TAC to Google Network Members | $3,082 | $3,674 | |||||
TAC to Google Network Members as % of Google Network Members' properties revenues | 70 | % | 74 | % | |||
TAC to distribution partners | $1,766 | $2,776 | |||||
TAC to distribution partners as % of Google properties revenues | 10 | % | 12 | % | |||
Total TAC | $4,848 | $6,450 | |||||
Total TAC as % of Google advertising revenues | 22 | % | 24 | % |
Change from Q4 2016 to Q4 2017 (YoY) | Change from Q3 2017 to Q4 2017 (QoQ) | ||||
Aggregate paid clicks | 43 | % | 18 | % | |
Paid clicks on Google properties | 48 | % | 19 | % | |
Paid clicks on Google Network Members' properties | 13 | % | 9 | % | |
Aggregate cost-per-click | (14 | )% | (6 | )% | |
Cost-per-click on Google properties | (16 | )% | (7 | )% | |
Cost-per-click on Google Network Members' properties | (4 | )% | 1 | % |
For earnings history and earnings-related data on Alphabet (GOOG) click here.
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