“We expect some increased momentum across Europe and Latin America, specifically as comps ease versus the base period.”

In context

“he business versus some of the tougher markets. 85% of the business, so comprising of the US, Europe and Latin America. The Latin-America and Europe enterprise markets, that 85% continues to grow at around 4%. What has improved is the 15%. So the performance of the balance of the markets, mainly the Asia, Middle-East, Africa markets, but the significant improvement in Greater China. So China was down 15% organic sales in quarter one and was down as we mentioned in the prepared remarks, only 3% in quarter two. So we see encouraging momentum towards recovery and hopefully a more neutral picture as we go into half two. That's exactly what we're expecting as we go into the second half of the year. We expect the US to continue to grow at the pace that we've seen in quarter two and quarter one. We expect some increased momentum across Europe and Latin America, specifically as comps ease versus the base period. And with that, if we are combining hopefully a little bit stronger growth in North America, easier comps in Europe, L.A. and Asia, Middle East, Africa. And if China continues to move towards a more neutral contribution to sales growth, that would actually allow us to be at the midpoint of organic sales growth guidance, maybe a little bit higher. Conversely, if we saw weakening across some of the core markets of North America and Europe, all we saw China returning to more negative territory, that would move us to the lower end or slightly below the current organic sales growth guidance. Our base case, Dara, to summarize, continued strong performance around 4%, in the 85% of the business continued recovery on the 15%. Operator: The next question will come from Lauren Lieberman of Barclays.”