“We are projecting though that if there is a slowdown in global GDP, there could be a small slowdown, not a big slowdown, in the Red Hat part of the consumption business.”

In context

“iness? And then just broadly speaking, if you could address the sort of sub-segment guidance you had provided at Investor Day approaching double digits in software and low single digits in consulting and whether we'd expect either of those to change very much? Thank you. Jim Kavanaugh: Okay. Operator: Jim? Arvind Krishna: Hoping I can remember. I think it was five parts to your question. Let me address the macro pieces, and then I'm gonna ask Jim Kavanaugh to address the last piece on the subsegment guidance. So if we look at what happened in the first quarter and then if you project forward, there's a difference. We did not really see much of a slowdown in one Q. On the consumption parts of the software business. Whether it's in TPS or whether it's in Red Hat. Just to be straightforward. We are projecting though that if there is a slowdown in global GDP, there could be a small slowdown, not a big slowdown, in the Red Hat part of the consumption business. But just to remind you, it's only between 10% and 20% of the total business. If I look at transaction processing, if anything, we see tailwinds right now, not headwinds. So we expect that part of the portfolio to remain strong unless we approach recession or negative GDP, which we are not projecting, from everything that we can see and read. Going to consulting and Doge, yes, we are not immune from all those activities just like everybody else. We had a couple of contracts that were impacted in the first quarter. You would expect USAID, where we did some work, was impacted. But not really in most other cases. The work we tend to do is much more mission-critical, is much more about building the government systems, which make them more efficient, and so we see them carry on. Now it's hard t”