Alphabet (GOOG) FY2017 results: revenue $110.9 billion, up 22.8% on the year
Alphabet Inc. (GOOG) reported revenue of $110.9 billion for fiscal 2017, the year ended 31 December 2017, up 22.8% on the year before. Net income was $12.7 billion, down 35.0%, and diluted earnings per share $0.90. The figures are the company's own, from the 10-K it filed with the SEC on 6 February 2018.
Revenue
$110.9 billion
+22.8% on the year
FY2013FY2017
Operating margin
23.6%
26.3% a year earlier
FY2013FY2017
Net income
$12.7 billion
-35.0% on the year
FY2013FY2017
Diluted EPS
$0.90
-35.4% on the year
FY2013FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
110,855
90,272
74,989
+22.8%
Cost of revenue
45,583
35,138
28,164
+29.7%
Gross profit
65,272
55,134
46,825
+18.4%
Gross margin
58.9%
61.1%
62.4%
Research and development
16,625
13,948
12,282
+19.2%
Operating income
26,146
23,716
19,360
+10.2%
Operating margin
23.6%
26.3%
25.8%
Interest expense
109
124
104
-12.1%
Pre-tax income
27,193
24,150
19,651
+12.6%
Income tax
14,531
4,672
3,303
+211.0%
Effective tax rate
53.4%
19.3%
16.8%
Net income
12,662
19,478
16,348
-35.0%
Net margin
11.4%
21.6%
21.8%
Diluted EPS
$0.90
$1.39
n/a
-35.4%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
37,091
36,036
26,572
+2.9%
Capital expenditure
13,184
10,212
9,950
+29.1%
Free cash flow
23,907
25,824
16,622
-7.4%
Free cash flow margin
21.6%
28.6%
22.2%
Cash from investing
-31,401
-31,165
-23,711
Cash from financing
-8,298
-8,332
-4,225
Share-based compensation
7,679
6,703
5,203
+14.6%
Buybacks
4,846
3,693
1,780
+31.2%
Dividends paid
0.0
0.0
47.0
Shares outstanding at period end
13,896m
13,826m
13,747m
+0.5%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
152,502
139,036
120,331
+9.7%
Debt
4,026
4,000
5,220
+0.7%
Other liabilities
40,767
24,461
21,910
+66.7%
Total liabilities and equity
197,295
167,497
147,461
+17.8%
Fixed assets
42,383
34,234
29,016
+23.8%
Goodwill
16,747
16,468
15,869
+1.7%
Intangible assets
2,692
3,307
3,847
-18.6%
Investments
91,156
73,415
56,517
+24.2%
Cash and equivalents
10,715
12,918
16,549
-17.1%
Receivables
18,336
14,137
11,556
+29.7%
Inventory
749
268
491
+179.5%
Other assets
14,517
12,750
13,616
+13.9%
Total assets
197,295
167,497
147,461
+17.8%
10-K for the year ended 31 December 2017, filed 6 February 2018: the filing.