Alphabet first-quarter results likely to show continued growth, boosted by cloud

Google CEO Sundar Pichai looks on during the AI Impact Summit in New Delhi on Feb. 19, 2026.

Alphabet is set to report its first-quarter earnings after the bell Wednesday.

Here's what Wall Street is looking for, according to analysts polled by LSEG:

Earnings per share: $2.63

$2.63 Revenue: $107.2 billion

Wall Street is also watching several other numbers in the report:

Google Cloud: $18.05 billion estimated, according to StreetAccount

$18.05 billion estimated, according to StreetAccount YouTube advertising: $9.99 billion estimated, according to StreetAccount

$9.99 billion estimated, according to StreetAccount Traffic acquisition costs: $15.3 billion estimated, according to StreetAccount

Alphabet's stock has been the top performer over the past year among the tech megacaps, soaring 118% as of Tuesday's close. The company is getting a boost from its Gemini artificial intelligence models and services, as well as its cloud infrastructure business, which sells capacity to developers and users of AI tools.

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