Google parent Alphabet Inc. reported first-quarter revenue and profit that exceeded analysts’ expectations, buoyed by continued strength in its search advertising business.

Alphabet, the parent company of Google, unveiled a stellar earnings report on Thursday evening, propelled by soaring profits and rapid progress in AI and cloud computing. The tech titan, one of the 'Magnificent Seven', reported revenue of $90.2bn, marking a 12 per cent year-on-year increase, as reported by City AM.

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.