After market close, report first-quarter results.

• Alphabet will release its quarterly earnings report following the market's closure on Thursday.
• The financial district anticipates another quarter of revenue growth in the low teens.
• The search boss of the company recently described their performance as having "really high highs and low lows."

will report first-quarter earnings after the bell Thursday.

Here is what analysts are expecting.

• Earnings per share: $1.51, according to LSEG.
• Revenue: $78.59 billion, according to LSEG.

• YouTube advertising revenue: $7.72 billion, according to StreetAccount.
• Google Cloud revenue: $9.35 billion, according to StreetAccount.
• According to StreetAccount, the total expenses for acquiring traffic amount to $12.74 billion.

Despite Google's weakest reports on record, Wall Street anticipates Alphabet to achieve a second consecutive quarter of year-over-year revenue growth in the low teens, representing an acceleration from the previous quarters.

Google is adapting to changing consumer behavior in accessing online information due to the generative artificial intelligence boom, and is working to stay competitive with OpenAI in developing new technology and features.

In an effort to maintain its competitive edge in the AI industry, Google has been restructuring its approach to search.

In February, Google introduced its AI image generator, which the company pulled after users discovered inaccuracies that went viral online. This mishap followed several other product launch mistakes in Google's effort to get tools and services out the door.

Last month, Google's senior vice president in charge of search, Prabhakar Raghavan, informed employees that the market has shifted due to the urgent need to invest in AI and that they must act quickly.

"Raghavan stated at an all-hands meeting that the company is facing a new cost reality due to the use of generative AI, which is causing the company to spend significantly more on machines. He also mentioned that organic growth is slowing and the number of new devices entering the market has decreased."

Raghavan, who led a reorganization of the search unit, stated that the first quarter had "really high highs and low lows." He put company veteran Liz Reid as the head of search, reporting to him.

On Wednesday, the online ad rival reported its first-quarter results, with revenue and profit exceeding expectations. However, the shares plummeted in extended trading due to a weaker-than-anticipated forecast and CEO Mark Zuckerberg's pledge to invest heavily in AI.

In the quarter, Google introduced new AI capabilities to its search engine and launched Circle to Search, a feature that extracts highlighted words or images from screenshots and converts them into Google search queries. Gizmodo praised it as the standout Android feature of the year.

Ruth Porat, Google's Chief Financial Officer, announced that her finance teams would undergo restructuring, including relocations and job cuts, according to CNBC.

Google is currently undergoing a downsizing as part of a broader effort to reallocate its workforce and resources to focus on investing in new technologies such as AI. In January, CEO Sundar Pichai informed employees that more job cuts were likely to occur in 2024, although he did not specify which teams would be affected at the time.

Google faced internal strife in the quarter due to employee protests against the company's cloud contract with the Israeli government, Project Nimbus. As a result, the company terminated over 30 employees suspected of involvement in the protests.

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