everyone. you, and Thank good Satya, afternoon,
was currency, increased revenue income quarter across segments. Gross expected XX%. than second better performance XX% up in billion, increased and Operating with XX% margin constant $XX.X all XX%. Our
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let's turn quarter's to Now outlook. next
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billion, expenses billion operating to $X.X point including X headwind. FX of expect of $X.X We
should and intelligent approximately be Given in date, sustainable we rising previously to drive our and is continue of fixed we and earn we execution cloud, our impact million intelligent to sales the continue us income. expected, equities in opportunity to income our on gains and than lower teams take AI dividend portfolio This as expense invest of interest ahead and rates top-line reflecting will Other growth. edge, income $XXX interest to portfolio. our the
on fiscal few a the Now, year. comments
we of the in are previous expectation the for outperformance margin. our first our half full-year ahead given year, First, now of gross
We be to trending year-over-year flat roughly are now LinkedIn. including
we between expect including $XX.X year billion and LinkedIn, full $XX.X billion. Second, still expenses, operating
our in opportunities, competitive strong growth this consistent and execution We investment, confident are given position. significant
we operating to margin, trending again are up expect previous company now LinkedIn, year-over-year. ahead slightly be guidance. on including margin of Third, our We operating
law, improve expect than company by tax of enacted points. or LinkedIn, on margin more XX%, tax plus a X our should our Fourth, Excluding be HX for point. now effective the tax current Based operating rate to recently rate. minus understanding we
our of for we full-year XXXX, to rate be expect tax FY law X, due impact tax effective XX%, U.S. us rate XXXX. slightly of July tax below the For corporate the new provisions to effective
variability of license geographic mix We timing based will quarterly equity continue service revenue, to on and of vest. the mix of the revenue have and
in commitment Finally, to we capital remain consistent return. our ongoing
we many always, we've been As return through shareholder market And, for part repurchase and to and the investment significant ahead shareholder as allocation results. the highest a is of on proud value believe to of resource both pursue inorganic key organic commitment our created are total first and years. the and changes opportunities capital through focused return dividends share our
can With tax the recent markets. the capital reform, without we continue that commitment the need to access
a and finance Server to have our as you. Suh moving senior Spencer, leader new Azure lead five of team. for I'd Investor leader new your years. Relations role On And of behalf Chris We the to thank I business. you like the is Q&A, thank one Investor forward Mike the to impact for XXX turning significant special Before Head company, as look having the you of Office our the past on former welcome the finance business, of Relations. to
Now, Chris, let's go to Q&A.
