Microsoft beat Wall Street forecasts on Oct. 28 while Alphabet missed. Microsoft shares rose about 5% after the close and Alphabet fell 7% to 9%.

Microsoft's fiscal first-quarter revenue rose 19% to $92.3 billion. Adjusted earnings of $4.89 a share topped the $4.73 analysts expected.

Azure grew 48% to $33.17 billion. It was the first time Microsoft gave Azure revenue in dollars instead of only a growth rate.

Finance chief Amy Hood guided Azure growth of 49% to 50% at constant currency for the current quarter.

Microsoft spent $45.2 billion on capital projects, below forecasts, and still had $18.63 billion in free cash flow.

Alphabet's revenue rose 25% to $127.6 billion, just short of the $128.2 billion analysts expected. Adjusted earnings were $2.67 a share against $3.02 expected.

Coverage described it as Alphabet's first miss on both revenue and profit in nearly four years.

Google Cloud revenue more than doubled, up 103% to $30.7 billion, with $11.1 billion in operating income.

Alphabet's capital spending jumped 114% to $51.36 billion, and free cash flow was negative $9.07 billion for a second straight quarter.

Both companies said demand for AI computing is bigger than the capacity they have.

Read the full article for the full comparison of the two reports.