Big Tech Earnings Split: Microsoft Wins, Alphabet Stumbles

Two tech giants reported the same night and got opposite reactions. Microsoft beat on every line — Azure up forty-eight percent, ninety-two billion in revenue, a six-hundred-seventy-seven-billion-dollar backlog — and its filing disclosed ten billion in OpenAI revenue. Alphabet missed on ads and profit, with AI Mode squeezing search revenue per query and free cash flow going negative.