Shares of Google parent Alphabet Inc. (GOOGL – Free Report) sank on Friday, just one trading day before the release of its first quarter financial results. This means investors might want to pay very close attention to the company’s first quarter estimates, beyond more basic earnings projections.

With that said, Alphabet’s first quarter earnings are expected to pop by 19.2% to reach $9.21 per share, based on our current Zacks Consensus Estimates. The company’s overall Q1 revenues are also projected to surge by 20.7% to hit $24.29 billion. Investors should note that our revenue estimate excludes Google Network Members revenues.

Clearly, investors will be happy to see that Alphabet is expected to expand both its top and bottom lines. Investors should also note that Google’s massive advertising business is once again projected to account for a large majority of Alphabet’s revenues.

Meanwhile, the company has expand its revenue base in recent years in an effort to provide more value to investors. Alphabet now operates in industries that are expected to boom, including cloud computing and artificial intelligence.

The company’s “Google other revenues” unit encompasses many of these newer business ventures. Another area that has grabbed investor attention recently is Google’s “Other Bets” unit. This more mysterious division is expected to experience bigger quarterly gains than Alphabet’s other two important business units.

Alphabet’s Other Bets segments is comprised of the Nest “smart” home automation division, known for its thermostats, smoke detectors, and security cameras. Another Other Bets revenue generator is Google Fiber, which provides broadband internet services in select cities throughout the U.S. Investors might also recognize Alphabet’s life sciences brand, Verily.

To see how much Other Bets is projected to grow, we can turn to our exclusive non-financial metrics consensus estimate file. The Zacks Consensus NFM file contains detailed estimate data for business segment metrics and non-financial metrics reported by companies. The data is acquired from digest and contributing broker models and includes the independent research of expert stock market analysts.

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