“So looking forward, we still expect to see revenue growth within our range of 15% to 17% for the full year of 2023.”

In context

“r-year in the second quarter on an FX adjusted basis as you can see on Slide 14. Growth remains quite strong, and continues to be driven largely by bringing new accounts onto our fee paying products. This quarter, we acquired 3 million new cards and the spend, revenue and credit profiles of these acquisitions continue to look strong relative to what we saw pre pandemic. Importantly, the acquisition trends you see on Slide 14 in this and recent quarters are consistent with our long-term growth aspirations. Moving on to Slide 15, you can see that net interest income was up 32% year-over-year, driven primarily by the growth in our revolving loan balances. To sum up on revenues on Slide 16, we're seeing broad-based revenue growth across our revenue lines. We're tracking with our expectations. So looking forward, we still expect to see revenue growth within our range of 15% to 17% for the full year of 2023. The revenue momentum we just discussed has been driven by the investments we've made. And those investments show up across the expense lines you see on Slide 17. Starting with variable customer engagement expenses, these costs came in at 42%, total revenues in the second quarter and are tracking with our expectation for them to run at around 43% of total revenues on a full year basis. On the marketing line, we invested $1.4 billion in the quarter, on track with our expectation to have full year marketing spend of around $5.5 billion. We remain focused on driving efficiencies so that our marketing dollars grow slower than revenues while continuing to drive the high quality [Technical Difficulty] Steve discussed earlier. Moving to the bottom of Slide 17, brings us to operating expenses whic”