“As it relates to our federal business, we saw an immaterial impact to our overall growth in Q3 and our best estimates right now include about a 2% headwind overall in Q4.”

In context

“easily into our solutions and delivery. We will also be able to help our people learn and imply AI more easily as this technology continues to evolve quickly. We will continue to manage our business through our geographic markets, the Americas, EMEA and APAC and go-to-market by industry. I'm excited about these changes and how they will fuel our growth. Back to you, Angie. Angie Park: Thanks, Julie. Now let me turn to our business outlook. For the fourth quarter of fiscal '25, we expect revenues to be in the range of $17 billion to $17.6 billion. This has seen the impact of FX will be approximately positive 2.5% compared to the fourth quarter of fiscal '24 and reflects an estimated 1% to 5% growth in local currency. I'd also like to provide some additional context on our guidance for Q4. As it relates to our federal business, we saw an immaterial impact to our overall growth in Q3 and our best estimates right now include about a 2% headwind overall in Q4. Moving to full fiscal '25. Based upon how the rates have been trending over the last few weeks, we now assume the impact of FX on our results in U.S. dollars will be positive 0.2% compared to fiscal '24. For the full fiscal '25, we now expect our revenue to be in the range of 6% to 7% growth in local currency over fiscal '24. We expect our inorganic contribution for the full year to be about 3%, and we now expect to invest about $1 billion to $1.5 billion in acquisitions this fiscal year. For operating margin, we now expect fiscal year '25 to be 15.6%, a 10 basis point expansion over adjusted fiscal '24 results. We now expect our annual effective tax rate to be in the range of 23% to 24%. This compares to an adjusted effective tax rate of 23.6% in fiscal '24. We now expect our full year d”