Google parent Alphabet reported first-quarter revenue and profit that exceeded analysts’ expectations, buoyed by continued strength in its search advertising business. First-quarter sales, excluding partner payouts, were $76.5 billion, the company said Thursday in a statement. Analysts had expected $75.4 billion on average, according to data compiled by Bloomberg. Net income was $2.81 per share, compared with Wall Street’s estimate of $2.01.The shares, which have declined 16% so far this year, rose more than 3.5% in extended trading following the report.

Alphabet needs to ensure momentum in its internet search advertising and cloud businesses in order to justify its heightened investment in the artificial intelligence race. Competition is prompting the company and its rivals to spend heavily on infrastructure, research and talent. While Google benefits from AI startups spending on its cloud and business tools, it’s also racing to present an answer to popular conversational AI chatbots, which consumers are beginning to think of as an alternative to using Google Search.

For instant reaction and analysis, hosts Carol Massar and Tim Stenovec speak with:

• Mark Douglas, MNTN President and CEO
• Bloomberg Intelligence Senior Tech Industry Analyst Mandeep Singh

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Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio.

In this episode, we feature conversations with Daniel Tannebaum & Anna Wong.

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- Ed Yardeni, President at Yardeni Research
- Nicolai Tangen, CEO of Norges Bank Investment Management
- Philip Lane, Chief Economist at ECB
- Jenny Johnson, CEO of Franklin Templeton Investments

Ed Yardeni, President at Yardeni Research, discusses his equity outlook, whether he's revising his S&P 500 target as tariffs continue to be negotiated, and if he believes the US will enter a recession. Nicolai Tangen, CEO of Norges Bank Investment Management, discusses the global economic outlook as globalization and US tariffs reshape global investing. Philip Lane, Chief Economist at ECB, joins to talk about whether investors are turning bullish on Europe despite trade uncertainty with the US. Jenny Johnson, CEO of Franklin Templeton Investments, discusses asset allocation as the investing and business environment remains highly uncertain and volatile.

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