Microsoft Corp (MSFT)
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Earnings Release FY11 Q4

• Windows & Windows Live: Market dynamics similar to FY11 Q4 with emerging market growth significantly outpacing developed market growth. Business PC growth to outpace consumer PC growth, as business refresh continues.

• Microsoft Business Division: Transactional revenue will likely lag the overall PC market. Multi-year licensing revenue should grow low-double digits.

• Server & Tools: Transactional revenue to generally track with the hardware market. Multi-year licensing revenue and enterprise services revenue to grow low double-digits.

• Online Services Division: Online advertising revenue to perform roughly in line with the overall online advertising market.

• Entertainment & Devices Division: Revenue to grow mid-teens.

FY12 Earnings Release Schedule
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