“We expect higher growth in advertising and marketing in Q3 compared to the first half of the year primarily driven by the cadence of spend related to our sponsorship activities.”

In context

“ed by healthy consumer spending, the continued secular shift to digital forms of payment and strong demand for our value-added services and solutions continues to position us well for the opportunities ahead. Overall, we remain positive about the growth outlook. Now turning to Q3, 2024. Year-over-year net revenue growth is expected to be at the high end of a 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 a one to two ppt headwind from foreign exchange for the quarter. From an operating expense standpoint, we expect Q3 operating expense growth to be at the low double-digit range versus a year ago, again, on a currency-neutral basis, excluding acquisitions and special items. We expect higher growth in advertising and marketing in Q3 compared to the first half of the year primarily driven by the cadence of spend related to our sponsorship activities. Acquisitions are forecasted to have a minimal impact to this OpEx growth for the quarter, while we expect a 0 to one ppt tailwind from foreign exchange. Separately, as Michael mentioned, as part of our recent reorganization, we expect to record a onetime restructuring charge in Q3 of approximately $190 million. This will be recorded as a special item and excluded from our non-GAAP metrics. We expect these actions will free up capacity to further invest in our strategic priorities as we continue to execute on our growth algorithm. We also expect they will contribute to delivering positive operating leverage over the long term. As it relates to the full year we expect net revenue to grow at the high end of a low double-digit range on a currency-neutral basis, excluding acquisitions. Acquisi”