“Other items to keep in mind, on other income and expenses in Q2, we expect an expense of approximately $85 million.”

In context

“act to this growth rate for the year, while we expect a 0 to 1 ppt benefit from foreign exchange. Now turning to Q2 2024. Year-over-year net revenue growth is expected to be at the low double-digit range on a currency-neutral basis, excluding acquisitions. Acquisitions are forecasted to have a minimal impact to this growth rate, while we expect an approximately 2 ppt headwind from foreign exchange for the quarter. From an operating expense standpoint, we expect Q2 operating expense growth to be at the low end of a low double-digit range versus a year ago, again, on a currency-neutral basis, excluding acquisitions and special items. Acquisitions are forecasted to add 0 to 1 ppt to this OpEx growth and foreign exchange is expected to be a tailwind of approximately 1 ppt for the quarter. Other items to keep in mind, on other income and expenses in Q2, we expect an expense of approximately $85 million. This expense is higher than what we had in Q1, driven by lower forecasted net average cash balances in Q2, primarily due to higher working capital requirements as well as the geographic mix of cash. This assumes the prevailing interest rates and debt levels continue and excludes gains and losses on our equity investments, which are excluded from our non-GAAP metrics. Finally, we expect a non-GAAP tax rate of approximately 17% for both Q2 and on a full year basis, all based on the current geographic mix of our business. And with that, I will turn the call back over to Devin. Devin Corr: Thank you. [ Audra ], you may open up the line for Q&A now. Operator: [Operator Instructions] And we'll take our first question from Sanjay Sakhrani at KBW. Sanjay Sakhrani: Yes. Sachin, just a question”