<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Google parent Alphabet (GOOG, GOOGL) is set to report its first quarter earnings on Tuesday, amid a growing economic crisis tied to the ongoing coronavirus pandemic.” data-reactid=”16″>Google parent Alphabet (GOOG, GOOGL) is set to report its first quarter earnings on Tuesday, amid a growing economic crisis tied to the ongoing coronavirus pandemic.

Here’s what analysts are expecting from the company, as compiled by Bloomberg, as well as how Alphabet performed in the same quarter last year.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Revenue: $32.6 billion expected versus $36.34 billion in Q1 2019″ data-reactid=”18″>Revenue: $32.6 billion expected versus $36.34 billion in Q1 2019

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Earnings per share: $10.36 expected versus $9.50 in Q1 2019 including $1.7 billion fine.” data-reactid=”19″>Earnings per share: $10.36 expected versus $9.50 in Q1 2019 including $1.7 billion fine.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Alphabet is, first and foremost, an advertising firm, and the economic tailspin from the coronavirus has already eaten into advertising budgets across the various industries — meaning the company could be in for a rough few quarters. According to the Interactive Advertising Bureau, 70% of media buyers say they are changing their advertising spending plans as a result of the coronavirus.” data-reactid=”20″>Alphabet is, first and foremost, an advertising firm, and the economic tailspin from the coronavirus has already eaten into advertising budgets across the various industries — meaning the company could be in for a rough few quarters. According to the Interactive Advertising Bureau, 70% of media buyers say they are changing their advertising spending plans as a result of the coronavirus.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="It’s also worth noting that according to internal documents obtained by CNBC, Alphabet CEO Sundar Pichai is reportedly moving to reduce hiring and the company’s advertising budget as a result of the current economic climate.&nbsp;” data-reactid=”21″>It’s also worth noting that according to internal documents obtained by CNBC, Alphabet CEO Sundar Pichai is reportedly moving to reduce hiring and the company’s advertising budget as a result of the current economic climate. 

Prior to the downturn resulting from worldwide economic shutdowns, analysts had Alphabet tracking for an impressive quarter. 

FILE - In this Tuesday, May 7, 2019 file photo, Google CEO Sundar Pichai speaks during the keynote address of the Google I/O conference in Mountain View, Calif.. Google CEO Sundar Pichai said Tuesday May 14, 2019, it's opening a privacy focused engineering center in Munich, Germany, in its latest move to beef up its data protection credentials. (AP Photo/Jeff Chiu, File)FILE - In this Tuesday, May 7, 2019 file photo, Google CEO Sundar Pichai speaks during the keynote address of the Google I/O conference in Mountain View, Calif.. Google CEO Sundar Pichai said Tuesday May 14, 2019, it's opening a privacy focused engineering center in Munich, Germany, in its latest move to beef up its data protection credentials. (AP Photo/Jeff Chiu, File)
Alphabet CEO Sundar Pichai will give remarks after the company reports its Q1 earnings on Tuesday. (AP Photo/Jeff Chiu, File)

Bank of America analyst Justin Post notes that the Street was forecasting 19% year-over-year revenue growth for the tech giant, but says the company experienced an 8% year-over-year decline in revenue run rate through the last few weeks of March, as coronavirus shutdowns began to take hold.

RBC’s Mark Mahaney is calling for similar results out of Alphabet. In his research note, Mahaney points out that the bleeding is likely to carry over into Q2, where it will have a greater impact on the company’s business.

“Our expectations are that GOOGL was growing Revenue in the high-teens percentages until mid-March when growth rapidly decelerated,” Mahaney wrote in his note. “We assume Q2 will be the worst impacted quarter with core Google Gross revenue down 20% [year over year] before making a partial recovery in Q3 (-11%) and Q4 (+5%).” 

In particular, according to BofA’s Post, travel and auto advertising will be among the hardest hit due to the virus.

“Our ad checks suggested ad [budgets] were cut roughly by 20-30% post COVID-19, and we expect certain categories like travel, autos, and local ad spend are likely to be under severe pressure in 2Q,” Post wrote in his own note.

Alphabet should, however, see positives in the number of people who downloaded apps through the Google Play Store, as well as the number of hours viewed on YouTube. 

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="What’s more, the firm’s G Suite should prove to be a bright spot, as well. On April 9, Javier Soltero, Google’s General Manager and VP of G Suite, announced in a blog post that the company was seeing 2 million new users accessing its Meet video service everyday.” data-reactid=”40″>What’s more, the firm’s G Suite should prove to be a bright spot, as well. On April 9, Javier Soltero, Google’s General Manager and VP of G Suite, announced in a blog post that the company was seeing 2 million new users accessing its Meet video service everyday.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="In Q4 2019, Google took the unprecedented step of breaking out both its YouTube and Cloud segment revenues from the broader Other Google Revenues category. It will be important to watch both of those to see how they performed throughout the quarter, and what, if any, guidance Alphabet provides for the quarters ahead.” data-reactid=”41″>In Q4 2019, Google took the unprecedented step of breaking out both its YouTube and Cloud segment revenues from the broader Other Google Revenues category. It will be important to watch both of those to see how they performed throughout the quarter, and what, if any, guidance Alphabet provides for the quarters ahead.

Beyond Alphabet, Yahoo Finance will be covering earnings for tech giants this week including Amazon, Apple, Facebook, and Microsoft. Stay tuned.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="More from Dan:” data-reactid=”43″>More from Dan:

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Got a tip? Email Daniel Howley at [email protected] or [email protected], and follow him on Twitter at&nbsp;@DanielHowley.” data-reactid=”49″>Got a tip? Email Daniel Howley at [email protected] or [email protected], and follow him on Twitter at @DanielHowley.

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