“GAAP and non-GAAP tax rates are expected to be 15%, plus or minus 1% excluding any discrete items.”

In context

“ses were up 10%, primarily reflecting increased compensation and benefits. Let me turn to the fourth quarter of fiscal 2024. Total revenue is expected to be $20 billion, plus or minus 2%. We expect strong sequential growth to be driven by Data Center, with continued strong demand for both compute and networking. Gaming will likely decline sequentially as it is now more aligned with notebook seasonality. GAAP and non-GAAP gross margins are expected to be 74.5% and 75.5%, respectively, plus or minus 50 basis points. GAAP and non-GAAP operating expenses are expected to be approximately $3.17 billion and $2.2 billion, respectively. GAAP and non-GAAP other income and expenses are expected to be an income of approximately $200 million, excluding gains and losses from non-affiliated investments. GAAP and non-GAAP tax rates are expected to be 15%, plus or minus 1% excluding any discrete items. Further financial information are included in the CFO commentary and other information available on our IR website. In closing, let me highlight some upcoming events for the financial community. We will attend the UBS Global Technology Conference in Scottsdale, Arizona, on November 28; the Wells Fargo TMT Summit in Rancho Palos Verdes, California on November 29; the Arete Virtual Tech Conference on December 7; and the J.P. Morgan Health Care Conference in San Francisco on January 8. Our earnings call to discuss the results of our fourth quarter and fiscal 2024 is scheduled for Wednesday, February 21. We will now open the call for questions. Operator, will you please poll for questions. Operator: [Operator Instructions] Your first question comes from the line of Vivek Arya of Bank of Ameri”