Microsoft drifts little changed ahead earnings

Microsoft is little changed, up 0.03% at $63.70 a share, ahead of its second-quarter earnings results that are scheduled to cross the wires on Thursday afternoon.

Here are Wall Street's expectations, according to analyst estimates compiled by Bloomberg:

• Revenue: $25.266 billion, down 1.7% year-on-year
• EPS (adjusted): $0.786

According to Bloomberg Intelligence, cloud-related products may drive Microsoft results. Microsoft's 2Q results will likely be driven by growth in its cloud application and infrastructure products amid an in-line holiday season for PCs.

In other news, Microsoft is preparing to enter the work chat market in force with Microsoft Teams. Additionally, the company appointed Kevin Scott as the new chief technology officer on Tuesday.

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