“In Software, we continue to expect revenue growth in line with software's mid-single-digit model.”

In context

“on, which is up over $1 billion year-to-year. Inherent in our midterm model is margin expansion, driven by improving business mix, efficiency initiatives and productivity enhancement. Driving efficiency and productivity has always been a part of our operating and financial models. I mentioned some of the initiatives we have underway and we continue to evaluate additional actions. Altogether, the current initiatives are expected to deliver $2 billion in annual run rate savings by the end of 2024. These initiatives provide additional flexibility, enabling reinvestment in the business to support future growth, contributing to margin expansion and increasing financial flexibility. Let me spend a minute on our expectations for constant currency revenue and pretax profit performance by segment. In Software, we continue to expect revenue growth in line with software's mid-single-digit model. This revenue growth drives operating leverage, and we still expect software pre-tax margin to expand by about 2 points year-to-year. In Consulting, we continue to see strong demand for digital transformations and application modernization. So as I said, we are seeing some pressure on more discretionary projects in the United States. We now see Consulting revenue growth in the range of 6% to 8% and continue to expect to expand Consulting pre-tax margin by at least 1 point as we capitalize on the yield of our productivity actions. Infrastructure revenue is roughly flat over the midterm model horizon, with performance in any year reflecting product cycle dynamics. We're about to wrap on the z16 introduction. As a result, we expect 2023 infrastructure revenue to decline with pre-tax margin in”