Alphabet set to report Q1 earnings with analysts expecting $106.8 billion revenue, up about 19% year-over-year

Alphabet is set to report first-quarter results on Wednesday after market close. Analysts expect revenue of $106.8 billion, up about 19% from a year earlier, while earnings are seen at $2.62 a share, down about 6%. The company has topped earnings estimates in each of its last nine quarters.

Recent developments include plans to invest up to $40 billion in AI firm Anthropic, with an initial $10 billion aimed at expanding computing capacity. Alphabet also introduced its TPU v8 chip at its Cloud Next event and expanded Gemini AI integration within Chrome.

Wall Street is looking for another quarter of AI- and cloud-led growth. Analysts at Evercore ISI and BofA maintained positive views on strength in Search and Cloud, though noted that higher AI-related spending could weigh on margins.