ALPHABET INC. (NASDAQ:GOOG) Files An 8-K Results of Operations and Financial Condition
Item 2.02.
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Results of Operations and Financial Condition.
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On April 27, 2017, Alphabet Inc. (Alphabet) is issuing a press
release and holding a conference call regarding its financial
results for the quarter ended>March 31, 2017. A copy of the
press release is furnished as Exhibit 99.1 to this Current Report
on Form 8-K.
release and holding a conference call regarding its financial
results for the quarter ended>March 31, 2017. A copy of the
press release is furnished as Exhibit 99.1 to this Current Report
on Form 8-K.
This information shall not be deemed filed for purposes of Section
18 of the Securities Exchange Act of 1934, as amended (the Exchange
Act), or incorporated by reference in any filing under the
Securities Act of 1933, as amended, or the Exchange Act, except as
shall be expressly set forth by specific reference in such a
filing.
18 of the Securities Exchange Act of 1934, as amended (the Exchange
Act), or incorporated by reference in any filing under the
Securities Act of 1933, as amended, or the Exchange Act, except as
shall be expressly set forth by specific reference in such a
filing.
Alphabet is making reference to non-GAAP financial information in
both the press release and the conference call. A reconciliation of
these non-GAAP financial measures to the comparable GAAP financial
measures is contained in the attached press release.
both the press release and the conference call. A reconciliation of
these non-GAAP financial measures to the comparable GAAP financial
measures is contained in the attached press release.
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Item 8.01.
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Other Events.
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Founders’ Letter
A is for Alphabet
Hard to believe we are about a quarter short of two years of
announcing Alphabet. Its been busy! I certainly feel Alphabet is
working well, and as intended (see the original G is for Google
announcement). At the time, I wrote that Alphabet is about
businesses prospering through strong leaders and independence. The
new structure has helped entrepreneurs build and run companies with
the autonomy and speed they need.
announcing Alphabet. Its been busy! I certainly feel Alphabet is
working well, and as intended (see the original G is for Google
announcement). At the time, I wrote that Alphabet is about
businesses prospering through strong leaders and independence. The
new structure has helped entrepreneurs build and run companies with
the autonomy and speed they need.
Sergey and I are working well together on the overall Alphabet
direction and providing guidance to the companies. Sundar is doing
great as Google CEO. Its certainly a big job and we are very lucky
to have him. Hell probably write this letter again in the future as
he has in the past, so I wont speak too much for him on the Google
related topics in this one. But, Im excited about how he is leading
the company with a focus on machine learning and AI. We took a big
step in that direction with the Google Assistant, and built it into
a new family of hardware devices like the Pixel and Google Home.
Theres a lot more to come.
direction and providing guidance to the companies. Sundar is doing
great as Google CEO. Its certainly a big job and we are very lucky
to have him. Hell probably write this letter again in the future as
he has in the past, so I wont speak too much for him on the Google
related topics in this one. But, Im excited about how he is leading
the company with a focus on machine learning and AI. We took a big
step in that direction with the Google Assistant, and built it into
a new family of hardware devices like the Pixel and Google Home.
Theres a lot more to come.
Weve had a number of significant things happen on the Alphabet side
since I last wrote. A number of our projects became companies, with
more autonomy and dedicated leadership.
since I last wrote. A number of our projects became companies, with
more autonomy and dedicated leadership.
Waymo is the new self-driving car company formed from Project
Chauffeur at X. John Krafcik is the new CEO and brings significant
auto industry experience. I love the name and I love even more the
excitement you can see when you visit with them! They also formed a
partnership with Fiat Chrysler around their new plug-in hybrid
Pacifica minivan which I see driving around the Waymo offices with
lots of sensors on it. I cant wait until Waymo launches.
Chauffeur at X. John Krafcik is the new CEO and brings significant
auto industry experience. I love the name and I love even more the
excitement you can see when you visit with them! They also formed a
partnership with Fiat Chrysler around their new plug-in hybrid
Pacifica minivan which I see driving around the Waymo offices with
lots of sensors on it. I cant wait until Waymo launches.
Verily Life Sciences launched in December 2015 with Andy Conrad as
founding CEO, also coming out of X. They have launched myriad
efforts and raised $800M from Temasek, who joined their board and
will help with Asian expansion. Im very fond of their Debug
project, which aims to stop mosquitoes in their tracks. It has been
running for a while, showing some good foresight because it was
started before Zika became a big concern.
founding CEO, also coming out of X. They have launched myriad
efforts and raised $800M from Temasek, who joined their board and
will help with Asian expansion. Im very fond of their Debug
project, which aims to stop mosquitoes in their tracks. It has been
running for a while, showing some good foresight because it was
started before Zika became a big concern.
In June 2016, Marwan Fawaz became CEO of Nest. He has been doing
great against their plan, and we have really been enjoying working
with him! I recommend you buy all their excellent products
including indoor and outdoor cameras, learning thermostats, and
smoke alarms.
great against their plan, and we have really been enjoying working
with him! I recommend you buy all their excellent products
including indoor and outdoor cameras, learning thermostats, and
smoke alarms.
Very recently Greg McCray started as CEO of Google Fiber. Ive been
enjoying working with him and his team and he has rapidly been
getting up to speed. He visited all of our Fiber cities so quickly
that I think he was still a bit out of breath when he got back to
Mountain View! We have made significant investments in bringing
gigabit fiber internet to lots of happy customers and Im excited
about our opportunities to do it better.
enjoying working with him and his team and he has rapidly been
getting up to speed. He visited all of our Fiber cities so quickly
that I think he was still a bit out of breath when he got back to
Mountain View! We have made significant investments in bringing
gigabit fiber internet to lots of happy customers and Im excited
about our opportunities to do it better.
We have many other efforts within Alphabet. Calico CEO Art
Levinson, former CEO of Genentech, is building an amazing research
and development company focused on aging. We also have newly
branded investment arms, GV (formerly Google Ventures), and
CapitalG (formerly Google Capital) which are doing well. Sergey is
continuing to spend time working with the X moonshot factory. They
have a number of efforts like Wing, which is doing drone delivery.
I also cant wait for them to launch!
Levinson, former CEO of Genentech, is building an amazing research
and development company focused on aging. We also have newly
branded investment arms, GV (formerly Google Ventures), and
CapitalG (formerly Google Capital) which are doing well. Sergey is
continuing to spend time working with the X moonshot factory. They
have a number of efforts like Wing, which is doing drone delivery.
I also cant wait for them to launch!
With the change to Alphabet, oversight has been easier because of
increased visibility. We have streamlined efforts where it made
sense and in other areas we have seen places to double down. I also
think we have learned a lot about how to set up new companies with
a structure for success. Our recent launch of Waymo was a great
example of our learnings. In general we are taking a patient
approach to investing our capital, especially significant uses.
Were not going to invest if we dont see great opportunities and we
feel like our track record for picking some important efforts long
before others is pretty good. Machine learning and all the efforts
around Google Brain and DeepMind are good examples. Google Cloud
led by Diane Greene is doing a fabulous job of getting our machine
learning hardware and software out to everyone. We were early in
machine learning and are already seeing significant dividends
coming out. Many of the Alphabet companies are already using this
technology and are planning to use it even more.
increased visibility. We have streamlined efforts where it made
sense and in other areas we have seen places to double down. I also
think we have learned a lot about how to set up new companies with
a structure for success. Our recent launch of Waymo was a great
example of our learnings. In general we are taking a patient
approach to investing our capital, especially significant uses.
Were not going to invest if we dont see great opportunities and we
feel like our track record for picking some important efforts long
before others is pretty good. Machine learning and all the efforts
around Google Brain and DeepMind are good examples. Google Cloud
led by Diane Greene is doing a fabulous job of getting our machine
learning hardware and software out to everyone. We were early in
machine learning and are already seeing significant dividends
coming out. Many of the Alphabet companies are already using this
technology and are planning to use it even more.
So in conclusion, Sergey and I are having a good time looking for
new opportunities and managing and scaling our existing efforts. I
still see amazing opportunities that just arent quite fully
developed yetand helping making them real is what I get excited
about.
new opportunities and managing and scaling our existing efforts. I
still see amazing opportunities that just arent quite fully
developed yetand helping making them real is what I get excited
about.
– Larry Page, CEO, Alphabet
Important Information
SHAREHOLDERS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT AND
ANY OTHER RELEVANT MATERIALS THAT ALPHABET WILL FILE WITH THE
SECURITIES AND EXCHANGE COMMISSION (THE SEC) CAREFULLY IN THEIR
ENTIRETY WHEN THEY BECOME AVAILABLE. SUCH DOCUMENTS WILL CONTAIN
IMPORTANT INFORMATION ABOUT ALPHABET AND ITS DIRECTORS, OFFICERS
AND AFFILIATES. INFORMATION REGARDING THE INTERESTS OF CERTAIN OF
ALPHABETS DIRECTORS, OFFICERS AND AFFILIATES WILL BE AVAILABLE IN
THE DEFINITIVE PROXY STATEMENT.
ANY OTHER RELEVANT MATERIALS THAT ALPHABET WILL FILE WITH THE
SECURITIES AND EXCHANGE COMMISSION (THE SEC) CAREFULLY IN THEIR
ENTIRETY WHEN THEY BECOME AVAILABLE. SUCH DOCUMENTS WILL CONTAIN
IMPORTANT INFORMATION ABOUT ALPHABET AND ITS DIRECTORS, OFFICERS
AND AFFILIATES. INFORMATION REGARDING THE INTERESTS OF CERTAIN OF
ALPHABETS DIRECTORS, OFFICERS AND AFFILIATES WILL BE AVAILABLE IN
THE DEFINITIVE PROXY STATEMENT.
The Definitive Proxy Statement and any other relevant materials
that will be filed with the SEC will be available free of charge on
the SEC website at www.sec.gov. In addition, the Definitive Proxy
Statement (when available) and other relevant documents will also
be available, without charge, by directing a request by mail to
Attn: Investor Relations, Alphabet Inc., 1600 Amphitheatre Parkway,
Mountain View, California, 94043 or by contacting
investor-relations@abc.xyz. The Definitive Proxy Statement and
other relevant documents will also available on Alphabets Investor
Relations website at https://abc.xyz/investor/.
that will be filed with the SEC will be available free of charge on
the SEC website at www.sec.gov. In addition, the Definitive Proxy
Statement (when available) and other relevant documents will also
be available, without charge, by directing a request by mail to
Attn: Investor Relations, Alphabet Inc., 1600 Amphitheatre Parkway,
Mountain View, California, 94043 or by contacting
investor-relations@abc.xyz. The Definitive Proxy Statement and
other relevant documents will also available on Alphabets Investor
Relations website at https://abc.xyz/investor/.
Participants in the Solicitation
Alphabet and its directors and certain of its executive officers
may be considered participants in the solicitation of proxies with
respect to the proposals under the Definitive Proxy Statement under
the rules of the SEC. Additional information regarding the
participants in the proxy solicitations and a description of their
direct and indirect interests, by security holdings or otherwise,
also will be included in the Definitive Proxy Statement and other
relevant materials to be filed with the SEC when they become
available.
may be considered participants in the solicitation of proxies with
respect to the proposals under the Definitive Proxy Statement under
the rules of the SEC. Additional information regarding the
participants in the proxy solicitations and a description of their
direct and indirect interests, by security holdings or otherwise,
also will be included in the Definitive Proxy Statement and other
relevant materials to be filed with the SEC when they become
available.
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Item 9.01.
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Financial Statements and Exhibits.
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(d)
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Exhibits.
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Exhibit
No.
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Description
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99.1
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Press release of Alphabet Inc. dated April 27, 2017
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About ALPHABET INC. (NASDAQ:GOOG)
Alphabet Inc. is a holding company. The Company holds interests in Google Inc. (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company. Its technical infrastructure and Virtual Reality are also included in Google segment. Google segment is engaged in advertising, sales of digital content, applications and cloud services, as well as sale of Google branded hardware. The Other Bets segment consists of various operating segments and includes businesses, such as Access/Google Fiber, Calico, Nest, Verily, GV, Google Capital, X and other initiatives. Other Bets segment is engaged in the sale of Nest hardware products, Internet and television services through Google Fiber, and licensing and research and development (R&D) services through Verily. ALPHABET INC. (NASDAQ:GOOG) Recent Trading Information
ALPHABET INC. (NASDAQ:GOOG) closed its last trading session up +2.52 at 874.25 with 1,237,167 shares trading hands.