Alphabet reported better-than-expected first-quarter earnings after Thursday's closing bell, and the stock is gaining more than 5%. MarketWatch will be breaking down the expectations and results.

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.

Google parent Alphabet unveiled a $70 billion share buyback and beat quarterly revenue estimates on Thursday, benefiting from steady growth in its digital advertising business.