Categories Earnings Call Transcripts, Technology

Alphabet, Inc. (GOOGL) Q4 2020 Earnings Call Transcript

GOOGL Earnings Call - Final Transcript

Alphabet, Inc. (NASDAQ: GOOGL) Q4 2020 earnings call dated Feb. 02, 2021

Corporate Participants:

Jim Friedland — Director of Investor Relations

Sundar Pichai — Chief Executive Officer

Philipp Schindler — Chief Business Officer

Ruth Porat — Chief Financial Officer

Analysts:

Eric Sheridan — UBS — Analyst

Doug Anmuth — J.P. Morgan — Analyst

Brent Thill — Jefferies — Analyst

Heath Terry — Goldman Sachs — Analyst

Brian Nowak — Morgan Stanley — Analyst

Colin Sebastian — Baird — Analyst

Michael Nathanson — MoffettNathanson — Analyst

Stephen Ju — Credit Suisse — Analyst

Presentation:

Operator

Welcome everyone and thank you for standing by for the Alphabet Fourth Quarter 2020 Earnings Conference Call. [Operator Instructions]

I would now like to hand the conference over to your speaker today, Jim Friedland, Director of Investor Relations. Please go ahead.

Jim Friedland — Director of Investor Relations

Thank you. Good afternoon everyone and welcome to Alphabet’s fourth quarter 2020 earnings conference call. With us today are Sundar Pichai; Philipp Schindler; and Ruth Porat.

Now I’ll quickly cover the Safe Harbor. Some of the statements that we make today regarding our business, operations, and financial performance, including the effect of the COVID-19 pandemic on those areas, may be considered forward-looking and such statements involve a number of risks and uncertainties that could cause actual results to differ materially. For more information, please refer to the risk factors discussed in our most recent Form 10-Q filed with the SEC. Additional information will also be set forth in our upcoming Form 10-K filing for the year ended December 31, 2020.

During this call, we will present both GAAP and non-GAAP financial measures. A reconciliation of non-GAAP to GAAP measures is included in today’s earnings press release which is distributed and available to the public through our Investor Relations website located at abc.xyz/investor.

And now, I’ll turn the call over to Sundar.

Sundar Pichai — Chief Executive Officer

Thank you, Jim, and good afternoon everyone. 2020 was a year unlike any other. We are proud that people continue to choose Google’s products to stay informed, connected, and comforted during uncertain times. Being helpful to people in moments, big and small, is the foundation of everything we do. The past year also accelerated the shift to cloud and adoption of online services. This has profound implications for all companies and consumers and we are pleased that so many trust us to help them make this transition. In particular Google’s products and support have been a lifeline for millions of small medium businesses hit hard by the pandemic.

Today, I’ll review some of the important work we have done this quarter across Google and Alphabet, with a particular focus on our growing Cloud business, which we are breaking out as a separate segment for the first time. Then, I’ll welcome to the call, Google’s Chief Business Officer, Philipp Schindler, who many of you know from investor conferences and events. Phillipp will speak about partnerships, business and advertising trends in the Google Services segment. We have heard you would appreciate more texture and detail there. Then Ruth will go through the quarter in more detail.

First, some highlights at Google. Since the pandemic began, our teams have built new features and products to help people and businesses. Now, we are helping with the complex challenge of getting vaccines to billions of people around the world. Vaccination locations have started to roll out in Google Search and Maps. Google Cloud’s intelligent vaccine impact platform is helping authorities improve vaccine distribution and forecasting. We are providing substantial new ad grants to the CDC, the World Health Organization and others to promote vaccine education. We’re also making direct grants to organizations addressing racial and geographic disparities in vaccination access plus opening up Google’s facilities as vaccination clinic stops as needed.

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Disclaimer

This transcript is produced by AlphaStreet, Inc. While we strive to produce the best transcripts, it may contain misspellings and other inaccuracies. This transcript is provided as is without express or implied warranties of any kind. As with all our articles, AlphaStreet, Inc. does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company’s SEC filings. Neither the information nor any opinion expressed in this transcript constitutes a solicitation of the purchase or sale of securities or commodities. Any opinion expressed in the transcript does not necessarily reflect the views of AlphaStreet, Inc.

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