Microsoft (NASDAQ: MSFT) will be reporting its Q1 results tomorrow, and industry estimates have the world's largest software maker pegged at an EPS figure of $0.39 on $12.57 billion in revenue. In July (Q4's conclusion), Microsoft forecast a Q1 profit of 38 cents per share to 40 cents per share on revenue of $12.4 billion to $12.6 billion.

Analyst predictions for Q1 performance centered on better-than-expected PC sales on a global basis plus the uber-successful launch of Microsoft's Halo 3 game for the Xbox 360 console that went on sale about a month ago. First-day sales of the game set entertainment records, outpacing any previous game or even film, with a take of $170 million.

Microsoft is also set to launch a stripped-down version of the Xbox 360 console in November at a price point of $279, pegged squarely at competing with the best-selling Nintendo Wii system that has proved incredibly popular this year due to its unique gameplay and $249 price. But that won't help Q1 numbers -- only Q2 numbers. Still, the software company may have a splendid Q1 period, and as of now, its shares are trading above $30 for the first time since July.

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