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Will Microsoft (MSFT) Stock Benefit From Tomorrow's Earnings Report?

NEW YORK (TheStreet) -- Microsoft Corp. (MSFT - Get Report) is scheduled to reports its fiscal 2016 first quarter earnings results after the market close on Thursday.

The technology company is expected to post a year-over-year increase in earnings per share, but a drop in revenue for the latest quarter.

Analysts have estimated earnings of 58 cents per share, up from 54 cents per share for the fiscal 2015 first quarter, and revenue of $20.96 billion, down from $23.2 billion in the same period last year.

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The Redmond, WA-based company develops software products and cloud services, but also makes devices such as Surface tablets, Lumia mobile phones and the Xbox gaming counsel.

Microsoft stock is down 0.53% to $47.51 in afternoon trading on Wednesday.

Separately, TheStreet...