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MOUNTAIN VIEW, Calif. (April 3, 2015) – Google Inc. (NASDAQ: GOOG, GOOGL) will hold its quarterly conference call to discuss first quarter 2015 financial results on Thursday, April 23rd at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time).
The live webcast of Google’s earnings conference call can be accessed at investor.google.com/webcast.html. A replay of the webcast will be available through the same link following the conference call. Please visit Google’s Investor Relations website at investor.google.com on April 23, 2015 to view the earnings release prior to the conference call.
About Google Inc.
Google is a global technology leader focused on improving the ways people connect with information. Google’s innovations in web search and advertising have made its website a top internet property and its brand one of the most recognized in the world.
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MOUNTAIN VIEW, Calif (Tuesday, March 24, 2015) -- Google Inc. (NASDAQ: GOOG) today announced that Ruth Porat, currently Chief Financial Officer at Morgan Stanley, will join its management team as CFO.
Ruth joined Morgan Stanley in 1987 and has played several key roles at the company, including Vice Chairman of Investment Banking, Global Head of the Financial Institutions Group and and co-Head of Technology Investment Banking. Throughout the financial crisis, Ruth led the Morgan Stanley teams advising the U.S. Treasury on Fannie Mae and Freddie Mac, and the New York Federal Reserve Bank on AIG. She has been the lead banker on numerous milestone technology financing rounds, including for Amazon, eBay, Netscape, Priceline and Verisign as well as for The Blackstone Group, GE and the NYSE. As CFO she helped improve resource optimization across different businesses through better capital and funding allocation, as well as expense reductions. Ruth has a B.A. from Stanford University (Economics & International Relations), a M.B.A. with distinction from The Wharton School of the University of Pennsylvania and a M.Sc., from the London School of Economics (Industrial Relations). She is Vice Chair of the Stanford University Board of Trustees, a member of the U.S. Treasury’s Borrowing Advisory Committee, a Board Director at The Council on Foreign Relations and a member of the Advisory Council of the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution.
Ruth will start at Google as CFO on May 26, reporting to Google CEO and Co-Founder, Larry Page.
“We’re tremendously fortunate to have found such a creative, experienced and operationally strong executive,” said Larry Page. “I look forward to learning from Ruth as we continue to innovate in our core--from search and ads, to Android, Chrome and YouTube--as well as invest in a thoughtful, disciplined way in our next generation of big bets. Finally, huge thanks to Patrick Pichette for his seven super successful years as CFO”.
"I’m delighted to be returning to my California roots and joining Google,” said Ruth Porat. “Growing up in Silicon Valley, during my time at Morgan Stanley and as a member of Stanford’s Board, I’ve had the opportunity to experience first hand how tech companies can help people in their daily lives. I can’t wait to roll up my sleeves and get started.”
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MOUNTAIN VIEW, Calif. (January 8, 2016) – Alphabet Inc. (NASDAQ: GOOG, GOOGL) will hold its quarterly conference call to discuss fourth quarter 2015 financial results on Monday, February 1st at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time).
The live webcast of the earnings conference call can be accessed at investor.google.com/webcast.html. A replay of the webcast will be available through the same link following the conference call. Please visit the Investor Relations website at investor.google.com on February 1, 2016 to view the earnings release prior to the conference call.
About Alphabet Inc.
Larry Page and Sergey Brin founded Google in September 1998. Since then, the company has grown to more than 50,000 employees worldwide, with a wide range of popular products and platforms like Search, Maps, Ads, Gmail, Android, Chrome, and YouTube. In October 2015, Alphabet became the parent holding company of Google. You can read more about Alphabet’s mission here.
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In August 2015, we announced plans to create Alphabet, a new public holding company, in which we would run our newer initiatives separately from the main, internet-related businesses within Google. We expect the new Alphabet structure to bring increased focus, accountability and transparency to all of our efforts. Since the announcement, we’ve been hard at work making the internal changes needed to make Alphabet a reality and to implement the related segment reporting starting with our fourth quarter 2015 results.
In order to help you understand the financial results for the fourth quarter of 2015 that we’ll report on February 1, we wanted to share some information in advance.
Two Reported Segments: Google and Other Bets. As we discussed on our Q3 earnings call, we’ll be adding disclosures for our segments. First, we will disclose our new ‘Google’ segment which includes our main internet products such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play as well as hardware products we sell, such as Chromecast, Chromebooks and Nexus. Our technical infrastructure and newer efforts like Virtual Reality also remain in Google.
Second, our other businesses will be combined and disclosed as ‘Other Bets’, which includes Access/Google Fiber, Calico, Nest, Verily (formerly Google Life Sciences), GV (formerly Google Ventures), Google Capital, X (formerly Google [X]) and other initiatives.
No changes to consolidated reporting, some changes in revenue breakout. Nothing is being taken away from our consolidated reporting. We will continue to show Google advertising revenues and TAC broken out by Sites and Network and we will continue to share monetization metrics (click and CPC growth) in aggregate as well as separately for Sites and Network.
In our historical results, revenues from Other Bets were included in “Other Revenues.” With segment reporting, Other Revenues will now be reported only for the Google segment as “Google Other Revenues.” Other Bets revenue will now be reported in the Other Bets segment. We’ve provided more information below on where you’ll see this information.
Six key financial disclosures for each segment. For each of Google and Other Bets, we’ll be reporting:
Revenues Segment operating income / (loss), excluding stock-based compensation expense Stock-based compensation Segment operating income / (loss) Capital expenditures Depreciation, amortization and impairmentsQuarterly data for current year, prior year comparable period and annual information for 3 full years. To ensure that you have a basis for comparison, in addition to current period, we will also provide historical segment information for all quarters of 2015, the fourth quarter of 2014 and full years 2013, 2014, and 2015 in our upcoming earnings release.
Visual presentation. You can expect the presentation of segment results to look something like this for each period included in our upcoming earnings release:
In addition, we will provide our revenue breakout for each period in the press release as follows:
Reconciling items. You’ll see from the above that segment revenues are fairly straightforward. The revenues from the Google segment plus the revenues from Other Bets will equal the total consolidated revenues.
For our other segment disclosures we will include “reconciling items” to help you see how the amounts reported for Google and Other Bets relate to the consolidated number for Alphabet as a whole in our income or cash flow statements.
For segment operating income / (loss) and stock-based compensation expense (‘SBC’) the reconciling items will primarily relate to corporate administrative costs and other miscellaneous items that are not allocated to individual segments. For capital expenditures, the reconciling items primarily relate to timing differences of payments, as segment capital expenditures are presented on an accrual basis whereas capital expenditures in Alphabet’s Consolidated Statements of Cash Flow are on a cash basis. In addition, reconciliations can also include other miscellaneous items, for example, items relating to Motorola for fiscal 2013 and 2014, as applicable.Separately, please note that return on investments from our ventures and capital businesses are included in OI&E (Other income and expense, net), which we will continue to disclose at a consolidated level.
We hope this helps set the stage for our new disclosures on Monday, February 1.
Posted by Amie Thuener, Chief Accountant
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