“Absent any changes to U.S. tax law, we expect our full year 2022 tax rate to be above the Q2 rate and in the high teens.”

In context

“ird quarter based on current exchange rates. In addition, as noted on previous calls, we continue to monitor developments regarding the viability of transatlantic data transfers and their potential impact on our European operations. Turning now to the expense outlook. We expect 2022 total expenses to be in the range of $85 billion to $88 billion, lowered from our prior outlook of $87 billion to $92 billion. We've reduced our hiring and overall expense growth plan this year to account for the more challenging operating environment while continuing to direct resources towards our company priorities. We expect 2022 capital expenditures, including principal payments on finance leases to be in the range of $30 billion to $34 billion, narrowed from our prior range of $29 billion to $34 billion. Absent any changes to U.S. tax law, we expect our full year 2022 tax rate to be above the Q2 rate and in the high teens. In closing, we're in the midst of an economic cycle that is having a broad impact on the digital advertising business. We're being disciplined on spending while still investing in those areas that will position to drive growth as the economic environment improves. Before opening up the call for questions, I want to say how pleased I am that Susan Li will serve as our next CFO when I step into my new role in November. Susan and I have worked side-by-side for the last 10 years, and she is an outstanding leader for the team. With that, France, let's open up the call for questions. Operator: [Operator Instructions] Our first question is from the line of Brian Nowak with Morgan Stanley. Brian Nowak: The first one around engagement and overall time spent among the users. Mark, you guys are maki”