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Google owner Alphabet Inc (NASDAQ:GOOG) has been outperforming big-tech peers Facebook and Amazon and the stage is still set for the group to impress with its second quarter results on Tuesday.

Alphabet stock is up more than 50% in 2021 to date (around 51% for the Class A shares and 57% for the Class C), helped in part by the internet giant’s strong first quarter showing in which it delivered 34% revenue growth year-on-year and earnings per share (EPS) rocketed 116% to US$26.29 (beating consensus forecasts for US$15.82.

Investors are eyeing more of the same.

Wall Street expectations are set at US$56bn for Q2 revenue whilst consensus analyst forecast see EPS at US$19.21. These forecasts are pitched against a fairly low bar, with last year’s comparatives marked at US$38.3bn for revenue and US$10.16 EPS.

It will be the latest signposts on what experts believe to be a bumper year for the search and ads group, with some estimating that the +50% revenue growth can be maintained for the whole year.

Whilst the financials and forecasts see the market bullish, caution remains around regulatory risk – specifically, the scrutiny in various territories over competition and anti-trust.

This point was perhaps sharpened last week with the appointment of Google agitator Jonathan Kanter as the Justice Department’s antitrust chief.

Kanter previously led cases against Google and if his nomination is confirmed he is expected to push ahead with ongoing lawsuits against Big Tech, including a suit launched against Google back in October and an investigation into Apple’s App Store practices.