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Microsoft (MSFT) Stock Tanks on Weak Q3 Results, Q4 Guidance

NEW YORK (TheStreet) -- Microsoft (MSFT - Get Report) stock is plunging by 7.27% to $51.72 on heavy trading volume on Friday morning, after the technology company delivered fiscal 2016 third quarter financial results and fiscal fourth quarter revenue guidance that fell short of estimates.

After yesterday's market close, the Redmond, WA-based company posted an adjusted profit of 62 cents per share on revenue of $22.08 billion for the fiscal third quarter, missing estimates that called for earnings of 64 cents per share on revenue of $22.09 billion.

"The revenue mix was somewhat shaky as the strength was due to Windows OEM revenue that outperformed the broader PC market (which is...