Cancellations And BookingsThe higher level of cancellations, of almost $1B, and what appears to be another quarter of a y/y decline in bookings, is worrisome.
Market Growth OutlookThe outlook for market growth is structurally lower by an estimated 100-200 basis points, indicating a decelerating growth outlook.
Revenue ChallengesRDS revenue growth is expected to be flat in the first half due to elevated cancellations, indicating short-term challenges.