Enclosed please find an earnings call transcript.

AI summary - Advanced AI revenue reached $219 million this quarter, up 28.4% sequentially and 78% YoY; annualized revenue $876 million - Services revenue grew 3% sequentially and 4% YoY; IT and Business Services up 2.7% sequentially and 4.4% YoY - EBIT margin improved to 18.2%, up 131 bps sequentially and 71 bps YoY, driven by AI and operational efficiencies - New bookings at $3.3 billion, second highest ever, up 27% YoY and 35% sequentially - FY27 revenue growth guidance 2.5%-4%, EBIT margin guidance 17.5%-18.5% - AI strategy pillars driving growth: AI embedded services, differentiated AI IP, expanded AI services, strategic partnerships, and AI talent development - Software revenue declined 5.8% sequentially due to fewer multi-year license renewals; ARR grew 7.8% YoY - Cash strong with net cash $2.56 billion; free cash flow conversion impacted by one-offs but expected to normalize - Multiple large AI deals across industries including banking, insurance, healthcare, and semiconductor - Management cautious on outlook due to volatile environment but optimistic on AI-led growth and pipeline