“This assumes the impact of FX will be approximately positive 2.5% compared to the third quarter of fiscal '25.”

In context

“e Middle East, a region which represented about 1% or $1 billion of revenue in FY '25. Our colleagues are safe, and we are providing them with all the support we can. Currently, we are not seeing any significant financial impact. While we know the environment is more uncertain given the conflict, we always call it like we see it. And based upon the information we have today, we are increasing key elements of our full year guidance. Our range for Q3 and the full year reflect our best view today of the potential impact of the conflict in H2. It does not take into account a significant escalation or the occurrence of major economic disruption. Now, let me turn to our business outlook. For the third quarter of fiscal '26, we expect revenues to be in the range of $18.35 billion to $19 billion. This assumes the impact of FX will be approximately positive 2.5% compared to the third quarter of fiscal '25. Our Q3 guidance reflects an estimated 1% to 5% growth in local currency, including about a 1% impact from our Federal business. Excluding the impact of Federal, our revenue is expected to be an estimated 2% to 6%. For the full fiscal '26, based upon how rates have been trending over the last few weeks, we continue to assume the impact of FX on our results in U.S. dollars will be approximately positive 2% compared to fiscal '25. For the full fiscal '26, we now expect revenues to be in the range of 3% to 5% growth in local currency over fiscal '25, including an estimated 1% impact from our Federal business. Excluding the impact of Federal, our revenue is expected to be an estimated 4% to 6%. This year, we continue to expect an inorganic contribution of about 1.5%. We have a strong pipeline”