Alphabet's Q1 earnings report revealed a significant outperformance, with revenue reaching $94.7 billion, surpassing the expected $91.6 billion. Earnings per share soared to $5.11, nearly doubling Wall Street's forecast of $2.62, leading to a 6% rise in after-hours trading. CEO Sundar Pichai highlighted record-high search query volumes following the integration of AI tools, countering concerns about chatbots impacting Google's search business. Cloud revenue also exceeded expectations, hitting $20 billion. The company's backlog surged past $460 billion, nearly doubling from the previous quarter, though Pichai noted constraints in computing capacity. Alphabet plans to increase investments and will allow select customers to use its TPU chips in their data centers. The Gemini Enterprise platform saw a 40% increase in paid users, while the consumer Gemini chatbot reached 750 million users by the end of 2025. CFO Anat Ashkenazi announced a capital expenditure budget increase to $190 billion, with expectations for further growth by 2027. Additionally, Alphabet declared a 5% dividend increase.