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Alphabet Inc. Class C

Alphabet, Inc. reports financial results for the quarter ended June 30, 2017.We analyze the earnings along side the following peers of Alphabet, Inc. - Microsoft Corporation, eBay Inc. and Adobe Systems Incorporated (MSFT-US, EBAY-US and ADBE-US) that have also reported for this period.

  • Summary numbers: Revenues of USD 26007 million, Net Earnings of USD 3524 million.
  • Gross margins narrowed from 62.05% to 60.11% compared to the same period last year, operating (EBITDA) margins now 32.65% from 34.45%.
  • Year-on-year change in operating cash flow of -18.83% is about the same as the change in earnings, likely no significant movement in accruals or reserves.
  • Narrowing of operating margins contributed to decline in earnings.

The table below shows the preliminary results and recent trends for key metrics such as revenues and net income growth:

Revenues (mil)2600724533260642234621422
Revenue Growth (%YOY)21.422.122.221.524.1
Earnings (mil)35245426533350614877
Earnings Growth (%YOY)-27.7298.327.243.1
Net Margin (%)13.622.120.522.622.8
Return on Equity (%)
Return on Assets (%)812.81312.912.8

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GOOG-US's change in revenue this period compared to the same period last year of 21.40% is almost the same as its change in earnings, and is about average among the announced results thus far in its peer group...