CEO of Alphabet and Google Sundar Pichai meets Polish Prime Minister at the Chancellery in Warsaw, Poland on March 29, 2022.
Mateusz Wlodarczyk | Nurphoto | Getty Images
Alphabet (GOOGL) reported weaker-than-expected earnings and sales for the first quarter on Tuesday, thanks largely to YouTube ad revenue coming up short. The headline results, however, do not tell the full story.