Alphabet Q1 Earnings Set for Cloud-Driven $107B Revenue, Shares Dip to $349.78

Alphabet Inc - Class C reports Q1 earnings after the bell on April 29, with analysts forecasting $2.63-$2.67 EPS (down YoY from $2.81), $107B+ revenue (up from $90.23B), and Google Cloud surging 47% to $18.05B at 27% margins. Coverage began April 28 raising revenue consensus to $106.9B on cloud RPO optimism and AI momentum, but highlighted $75B capex through 2026, $179B FY26 spend, and $10B Anthropic investment risks. Shares fell 0.2% to $349.78 after 21% monthly and 118% yearly gains, with options implying 5.6% volatility.