Analysts on Wall Street project that Alphabet (GOOGL Quick QuoteGOOGL - Free Report) will announce quarterly earnings of $1.60 per share in its forthcoming report, representing an increase of 52.4% year over year. Revenues are projected to reach $70.71 billion, increasing 12% from the same quarter last year.

Over the last 30 days, there has been a downward revision of 0.5% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.

Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.

While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.

Given this perspective, it's time to examine the average forecasts of specific Alphabet metrics that are routinely monitored and predicted by Wall Street analysts.

Analysts expect 'Revenue- Google properties' to come in at $57.02 billion. The estimate suggests a change of +12.8% year over year.

Analysts' assessment points toward 'Revenue- Google Cloud' reaching $9.04 billion. The estimate suggests a change of +23.6% year over year.

The collective assessment of analysts points to an estimated 'Revenue- YouTube ads' of $9.10 billion. The estimate indicates a year-over-year change of +14.3%.

Analysts predict that the 'Revenue- Google Advertising- Total' will reach $65.45 billion. The estimate indicates a change of +10.9% from the prior-year quarter.

The consensus among analysts is that 'Revenue- Google Search & other' will reach $47.84 billion. The estimate points to a change of +12.3% from the year-ago quarter.

The consensus estimate for 'Revenue- Google Network' stands at $8.52 billion. The estimate suggests a change of +0.5% year over year.

The combined assessment of analysts suggests that 'Revenue- EMEA (Europe, Middle East, and Africa)' will likely reach $24.76 billion. The estimate indicates a change of +13.8% from the prior-year quarter.

Based on the collective assessment of analysts, 'Revenue- US- Total' should arrive at $40.09 billion. The estimate indicates a year-over-year change of +8.4%.

It is projected by analysts that the 'Revenue- Other Americas (Canada and Latin America)' will reach $5.16 billion. The estimate indicates a year-over-year change of +10.8%.

Analysts forecast 'Revenue- APAC (Asia-Pacific)' to reach $13.82 billion. The estimate suggests a change of +15.3% year over year.

According to the collective judgment of analysts, 'Total traffic acquisition costs' should come in at $13.95 billion. Compared to the current estimate, the company reported $12.93 billion in the same quarter of the previous year.

The average prediction of analysts places 'Headcount' at 182,484. The estimate is in contrast to the year-ago figure of 190,234.

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Shares of Alphabet have experienced a change of +5.9% in the past month compared to the +2.5% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), GOOGL is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>