What You Need To Know Ahead of Google Parent Alphabet’s Earnings Report [Video]

Google parent Alphabet (GOOGL) is set to report first-quarter 2024 earnings Thursday after the closing bell, with analysts watching for sustained cloud growth and any updates on artificial intelligence (AI) initiatives.

Analysts project Alphabet’s revenue to be $78.79 billion for the first quarter of 2024, down from the previous quarter but up from $69.79 billion in the same period in 2023, according to estimates compiled by Visible Alpha.

Net income is expected to be $18.89 billion, a decline from the fourth quarter but an increase from $15.05 billion in the first quarter of 2023. Earnings per share (EPS) are projected at $1.51, compared with $1.17 in the same period a year earlier.

Investors are watching for sustained Google Cloud growth after the segment’s revenue jumped in the final quarter of 2023 after a period of minimal gains.

Google Cloudrevenue grew more than 25.5% year-over-year to $9.2 billion in the fourth quarter of 2023, easing investor …