Alphabet brought in $90.2 billion of revenue in Q1, topping consensus analyst estimates of $89.2 billion, and $2.81 diluted earnings per share ($34.5 billion net income), smashing forecasts of $2.01 EPS ($24.8 billion net income), according to FactSet.

Google-parent Alphabet is facing risk on multiple fronts. Its search engine is under attack from AI, while courts are calling the business a monopoly.

Google parent Alphabet is set to report first-quarter results after the market closes Thursday, with analysts largely bullish on the tech giant's ability to weather economic uncertainty.