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MSFT Preview: Expect Another Solid Quarter

By Bob Faulkner

 About this article:
 Microsoft is scheduled to report its fourth-quarter results tomorrow after the close and will have a conference call at 5:30 p.m. EDT. Current consensus estimates are for revenue of $15.65 billion (up 17% year over year and 8% quarter over quarter) and EPS of 47 cents. In the prior quarter, Microsoft reported revenue of $14.457 billion (flat year over year and down 12% quarter over quarter) and EPS of 47 cents. Excluding a one-time revenue deferral in the prior year's quarter, revenue growth would have been 14%. The gross margin was 82.6%, down 250 basis points year over year but up 420 basis points sequentially, on lower Xbox hardware sales. The operating margin was 30.5%, down more than 1,500 basis points from last year and 910 basis points from the prior quarter, due to a $1.5 billion fine paid to the European Union. The balance sheet...

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