“Our confidence in meeting our $66 billion revenue target for FY '26 is now stronger revenue than ever and represents around a 15% growth rate.”

In context

“nd. This quarter, we repurchased nearly 1 million shares for a total of $150 million and over the last 10 years, we've reduced the shares outstanding by more than one-third at an average price of $54 a share. In addition, we have paid out dividends of $4.4 billion over the last 12 months, and the Board of Directors increased the quarterly dividend 25% from $0.40 to $0.50 per share today. Before I dive into Q4 specific guidance, I'd like to comment on the financial acceleration we expect to see in the coming years. We now have a clear light of sight to our future revenue growth. We remain very confident and committed to total cloud infrastructure revenue for fiscal year 2025 growing faster than the 50% reported last year and it will be even faster for fiscal year 2026, likely a lot faster. Our confidence in meeting our $66 billion revenue target for FY '26 is now stronger revenue than ever and represents around a 15% growth rate. And more importantly, I now expect that our fiscal year '27 growth rate will be around 20%, which is even higher than I previously guided. Let me now turn to my guidance for Q4, which I'll review on a non-GAAP basis and assuming exchange rates remain the same as they are now, currency should have a $0.01 to $0.02 negative effect on EPS and a 1% negative effect on revenue. However, as usual, currency impact may be different. So focus in on constant currency. Total revenues are expected to grow from 9% to 11% in constant currency and are expected to grow from 8% to 10% and in USD at today's exchange rate. Total cloud revenue is expected to grow from 24% to 28% in constant currency is expected to grow from [25 to 27 in USD] (ph). Non-GAAP EPS is expected to grow from 0% to 2% and be between”