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

In context

“ned, we have reset our expectations for the second half of the year to account for the caution around macro uncertainty, the continued absorption by our customers of record levels of product shipments they received from us and the weakness of our Service Provider market. For Q3, our guidance is as follows, we expect revenue to be in the range of $12.1 billion to $12.3 billion. We anticipate the non-GAAP gross margin to be in the range of 66% to 67%. Non-GAAP operating margin is expected to be in the range of 33.5% to 34.5%. Non-GAAP earnings per share is expected to range from $0.84 to $0.86. For fiscal year '24, our guidance is as follows, we expect revenue to be in the range of $51.5 billion to $52.5 billion. Non-GAAP earnings per share guidance is expected to range from $3.68 to $3.74. In both our Q3 and full year guidance, we're assuming a non-GAAP effective tax rate of 19%. Sami, let's now move into the Q&A. Sami Badri: Thank you, Scott. Before we start the Q&A portion of the call, I would like to remind analysts to ask one question and a single follow-up question. Operator, can we move to the first analyst in the queue. Operator: Thank you, sir. Amit Daryanani with Evercore. You may go ahead, sir. Amit Daryanani: Yes, good afternoon. I'll ask both my questions upfront. Chuck, when I think about the lower revenue guide for the full year by about 500 basis points versus 90 days ago. Can you just touch on how much of that do you think is the digestion getting extended versus the macro versus the telco weakness? And then how do you sort of think about getting back to a positive revenue cadence organically? And then as a follow-up, I'd love to just understand th”