Alphabet set to report earnings after the bell

The company is expected to take a hit to advertising as travel companies pull their traditionally big spending.is set to report earnings for the first quarter of fiscal 2020 after the bell on Tuesday, making it the first of the five big tech giants to report earnings since the coronavirus pandemic struck.

Wall Street is anticipating earnings per share of $10.33 on revenue of $40.29 billion, based on Refinitiv consensus estimates from analysts. Traffic acquisition costs are expected to come in at $7.51 billion, according to analysts polled by FactSet. However, it's difficult to compare reported earnings to analyst estimates for Alphabet's first quarter, as the impact of the coronavirus pandemic on earnings is complicated to assess.

Google, which is highly reliant on small advertisers, faces its biggest test since the financial crisis over a decade ago—and all under a CEO who's been in the role for less than six months but has already begunWhile advertising has consistently grown, the rate at which it's grown hasover the last year — even before the pandemic. Advertising still makes up the vast majority of Alphabet's revenues -- 84% last year.

Certain segments particularly hard hit by the pandemic are expected to draw back on Google ads. For instance, travel companies like

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