“Again, we expect FX will be a tailwind.”

In context

“cts that we feel it remains a volatile macro environment. The market has absorbed a lot of new developments over the last year with inflation, higher interest rates, banking and stability, et cetera. And it's hard to have perfect visibility on how those dynamics will impact the broader economy and specifically in the advertising markets for Q2 and for the rest of the year. It also continues to be a challenging regulatory environment. So that's something that we're continuing to monitor closely. But on the other hand, we've been pleased with the performance we're delivering for advertisers and how those investments have paid off. Core engagement trends remain strong. And Reels is a revenue headwind today that we expect will become revenue neutral by the end of the year or early next year. Again, we expect FX will be a tailwind. And again, we're lapping relatively softer comps. So lots of puts and takes as we look beyond -- as we look into Q2 and beyond. Operator: Your next question comes from the line of Doug Anmuth with JPMorgan. Your line is open. Doug Anmuth : Thanks for taking questions. Susan, you've talked about the goal of building the muscle for long-term financial discipline. Just given the restructuring that we've seen across the business so far, how far along are you in building this muscle? And what gives you the confidence that it's durable and sustainable long term even in a better macro environment, especially given all the work ahead on AI and the Metaverse? Susan Li : Thanks, Doug. I think there are a couple of components to this. A lot of this efficiency work that we've been undertaking and esp”