Third Quarter Fiscal 2023 Outlook
| In millions, expect per share data | ||
| Q3 – 2023 | ||
|
Revenue |
$ | 1,215-$1,255 |
|
GAAP Diluted earnings per share |
$ | 1.16-$1.26 |
|
Non-GAAP Diluted earnings per share |
$ | 1.45-$1.51 |
- Third quarter revenue guidance assumes immaterial sequential impact from foreign currency fluctuations as compared to the second quarter of fiscal 2023
- Third quarter non-GAAP diluted EPS guidance excludes equity-based compensation expense of approximately $0.15-$0.17 per share, amortization of purchased intangible assets and other acquisition-related costs of approximately $0.08 per share, changes in certain acquisitions related liabilities measured at fair value, and other, net of related tax effects
Full Year Fiscal 2023 Outlook
| FY 2023 – Year-over -Year growth | ||||||
| Current guidance | Previous guidance | |||||
|
Revenue Growth, as reported |
6.0%-8.0% | 5.0%-9.0% | ||||
|
Revenue Growth, constant currency (2) |
7.0%-9.0% | 6.0%-10.0% | ||||
|
GAAP Diluted earnings per share |
3.0%-10.0% | 3.0%-10.0% | ||||
|
Non-GAAP Diluted earnings per share |
9.0%-13.0% | 9.0%-13.0% | ||||
| FY 2023, in millions | ||||||
| Current guidance | Previous guidance | |||||
| Free Cash Flow (1) | $ | 700 | $ | 700 | ||
- Full year fiscal 2023 revenue guidance incorporates an expected unfavorable impact from foreign currency fluctuations of approximately 1% year-over-year, consistent with previous expectation
- Non-GAAP diluted earnings per share growth excludes equity-based compensation expense of approximately $0.58-$0.63 per share, amortization of purchased intangible assets and other acquisition-related costs of approximately $0.35 per share, restructuring charges of approximately $0.15 per share, changes in certain acquisitions related liabilities measured at fair value, and other, net of related tax effects
- Non-GAAP effective tax rate is anticipated to be within a range of 13.0% to 17.0% for the full year fiscal 2023
- Free cash flow(1) is comprised of cash flow from operations, less net capital expenditures and other
The forward looking statements regarding our third fiscal quarter 2023 and full year fiscal 2023 guidance take into consideration the Company’s current expectations regarding macro and industry specific risks and various uncertainties and certain assumptions that we will discuss on our earnings conference call. However, we note that market dynamics continue to shift rapidly and we cannot predict all possible outcomes, including those resulting from certain geopolitical events, the current inflationary environment, global or regional events, such as the COVID-19 pandemic and the prevailing level of macro-economic, business and operational uncertainty, which have created, and continues to create, a significant amount of uncertainty, or from current and potential customer consolidation or their other strategic corporate activities.
