Alphabet Inc.’s earnings were a bit better than Wall Street had expected. But will that beat really matter for the company’s stock?

Key Takeaways Alphabet shares rose Friday after the Google parent posted quarterly results that topped Wall Street expectations amid AI-fueled search advertising growthThe stock staged a breakout above the top trendline of a descending channel in Thursday’s trading session,

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.