“In both our Q3 and full year guidance, we are assuming a non-GAAP effective tax rate of 19%.”

In context

“al quarters. We expect those same factors will continue into fiscal 2024 giving us greater visibility and confidence in our longer term goals. For fiscal Q3, our guidance is: we expect revenue growth to be in the range of 11% to 13%; we anticipate the non-GAAP gross margin to be in the range of 63.5% to 64.5%; our non-GAAP operating margin is expected to be in the range of 33% to 34%; and our non-GAAP earnings per share is expected to range from $0.96 to $0.98. There is also a significant change to our full year fiscal ‘23 revenue and non-GAAP earnings per share guidance driven by these same factors. For fiscal year ‘23, we are raising our expectations for revenue growth to be in the range of 9% to 10.5% year-over-year. Non-GAAP earnings per share is expected to range from $3.73 to $3.78. In both our Q3 and full year guidance, we are assuming a non-GAAP effective tax rate of 19%. I will now turn it back to Marilyn so we can move into the Q&A. Marilyn Mora: Thanks, Scott. I am going to turn it over to Chuck just for a few comments before we start the Q&A. Chuck Robbins: Yes. Before we get into Q&A, I just wanted to send our condolences to those impacted by the earthquake in Turkey and Syria. It’s been absolutely devastating to watch as the death toll has climbed and we are working closely with our teams in the region to give them support and help on the ground as much as we can. We just want to let them know that we are all thinking about them and we are here to help. Marilyn Mora: Thanks, Chuck. Michelle, let’s go ahead and open up the queue for questions and answers. Operator: Thank you, Marilyn. Ittai Kidron, you may go ahead, with Oppenheimer & Company. Ittai K”