Financial Data and Key Metrics Changes - Revenue reached $23.4 billion, up 5% year-over-year, driven by growth across all core markets [6][20] - Earnings per share increased by 17% to $1.55, growing three times faster than revenue [6][20] - Net income rose 13% to $1.1 billion, primarily driven by stronger operating income [21][22] - Gross margin was $5.1 billion, or 21.6% of revenue, down 80 basis points due to a competitive pricing environment [20][21] Business Line Data and Key Metrics Changes - ISG revenue was $10.3 billion, up 12%, with servers and networking revenue at a record $6.3 billion, up 16% [22][23] - CSG revenue rose 5% to $12.5 billion, with commercial revenue up 9% to $11 billion, while consumer revenue declined 19% to $1.5 billion [25][26] - PowerStore demand rose double digits, growing for five consecutive quarters [11] Market Data and Key Metrics Changes - Strong demand for AI optimized servers, with $12.1 billion in orders booked in Q1, surpassing all shipments in FY 2025 [7][22] - Enterprise AI customers grew sequentially across key industry verticals, including WebTech, financial services, and education [7][8] - Commercial demand was strongest in North America, with EMEA and APJ regions also showing double-digit growth [12] Company Strategy and Development Direction - The company is focused on expanding its leadership in AI, investing in innovation, and deepening customer partnerships [9][16] - Continued emphasis on modernizing data centers with the introduction of sixteenth and seventeenth generation servers [17][18] - The company aims to capture more value from its platforms by increasing the mix of Dell IP storage [24][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong demand for AI servers and the ability to execute on large, complex customer deployments [37][50] - The company anticipates a continued PC refresh cycle as the installed base upgrades to new devices [27][30] - Management remains cautious about traditional server and storage performance due to the dynamic macro environment [30][31] Other Important Information - Record Q1 cash flow from operations of $2.8 billion, driven by profitability and working capital improvement [26] - The company returned $2.4 billion to shareholders through stock repurchases and dividends [27] - Full year revenue guidance is reiterated at $101 billion to $105 billion, with expectations for ISG to grow in the high teens [30][31] Q&A Session Summary Question: Can you discuss the AI server revenue outlook? - Management indicated that the backlog for AI servers is healthy, with expectations to exceed $15 billion for the fiscal year [36][41] Question: What are the expectations for the second half guidance? - Management expects to ship approximately $7 billion of AI servers in the first half, with optimism for converting more pipeline in the second half [44][46] Question: How is the storage attach opportunity evolving alongside AI servers? - Management noted modest improvements in storage and networking attach rates, emphasizing the importance of deployment and installation services [54][56] Question: Are tariffs impacting the financial outlook? - Management confirmed that current guidance includes all known tariff impacts and that input costs are expected to be deflationary [66][68] Question: What is the demand landscape for AI servers? - Management highlighted a diverse customer base, including CSP and enterprise customers, with significant growth in repeat enterprise customers [72][76] Question: How is the competitive environment affecting pricing? - Management stated that ASPs remained stable, with no price increases, and noted aggressive competition in large deals [90][92]

Financial Data and Key Metrics Changes - The company reported first quarter revenue of $85.9 million, which is up 2.2% sequentially and up 57.6% year over year, exceeding the midpoint of prior guidance [7][25] - Non-GAAP gross margin for Q1 was 62%, slightly above the midpoint of prior guidance due to a favorable product mix [25] - Non-GAAP net profit for Q1 was $3 million, or $0.07 per diluted share [26] - Cash and marketable securities reached $259.4 million, increasing by $9.1 million from the prior quarter [27] Business Line Data and Key Metrics Changes - AI revenue accounted for more than 75% of Q1 revenue, marking the fourth consecutive quarter of record AI revenue [8] - IoT applications increased to mid-single digits sequentially, now representing about three-quarters of total revenue [8] - Automotive revenue declined in low single digits sequentially but was up more than 20% year over year [8] Market Data and Key Metrics Changes - The company is increasing its fiscal 2026 revenue growth estimate to a range of 19% to 25%, approximately $348 million at the midpoint [9] - The serviceable available market (SAM) for h AI applications is projected to reach almost $13 billion by fiscal 2031, with a five-year compounded annual growth rate in the high teens [11] Company Strategy and Development Direction - The company is focusing on expanding its edge AI infrastructure market, developing new AI SoC product families to enhance its offerings [11][12] - The company aims to leverage its existing technology to address new application verticals beyond its core enterprise security business [19] - Investment in technology and products is driving both current and future revenue growth opportunities [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in long-term drivers of the h AI strategy despite geopolitical uncertainties [10][23] - The company is prepared for short-term surprises while focusing on innovation and market development [23] - Management indicated that while there is uncertainty regarding the second half of the fiscal year, they remain optimistic about growth [35] Other Important Information - The company has extended its share repurchase program for an additional twelve months, with approximately $48 million available under the authorization [28] - A logistics company, WT Microelectronics, represented 63.1% of revenue for the quarter [29] Q&A Session Summary Question: Clarification on full-year guidance and growth profile - Management indicated that there are no concerns about second-half strength, but geopolitical uncertainty has led to a broader guidance range [34][35] Question: Explanation of edge infrastructure products - Management clarified that edge infrastructure involves integrating multiple endpoints to upgrade existing installations, which is a growing trend [42][44] Question: Supply chain conversations with customers - Management reported that customers are not building inventory and are cautious about the current geopolitical situation [78][80] Question: Gross margin expectations - Management explained that gross margin fluctuations are primarily driven by customer and product mix [81] Question: AI capabilities in cameras and video management systems - Management noted that both cameras and AI boxes are necessary to upgrade the installed base and enhance AI capabilities [88][90] Question: Market share outside of China - Management stated that they hold a majority market share in the mid and high-end security camera market outside of China [92] Question: Edge AI infrastructure product development - Management confirmed that the second chip for edge AI infrastructure is a response to market demand and will leverage existing technology for faster development [96]

Financial Data and Key Metrics Changes - For the first quarter, net sales increased by 4.5% to $2.8 billion, with operating profit at 14.1% of sales and diluted earnings per share at $6.70 [6][25][29] - Comparable sales rose by 2.9%, driven by a 2.3% increase in average ticket and a 0.6% increase in transactions [25] - Gross margin decreased by 10 basis points to 39.1%, primarily due to deleverage of store and supply chain fixed costs [27] - SG&A expenses increased by 6.7% to $711 million, with SG&A as a percentage of sales rising to 24.9% [28] Business Line Data and Key Metrics Changes - Fragrance was the strongest performing category, delivering double-digit growth, while skincare and wellness saw high single-digit growth [10] - Hair care was roughly flat, with growth in hair color and accessories offset by declines in hair care tools [11] - Makeup category experienced a slight decrease in comp sales, driven by mass makeup, while prestige makeup remained flat [11][12] Market Data and Key Metrics Changes - Consumer engagement with beauty remains strong, with beauty and wellness prioritized by consumers despite economic pressures [7] - The beauty category is expected to normalize growth rates, projected at 2% to 5% over the next few years [56] Company Strategy and Development Direction - The company is focused on executing the Ulta Beauty Unleashed plan to accelerate performance and maintain leadership [7][19] - Strategic priorities include scaling new businesses, enhancing digital capabilities, and optimizing cost structures [17][19] - The company plans to open stores in Mexico City, Kuwait City, and Dubai later this year, alongside launching an online marketplace [18] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the operating environment, acknowledging ongoing consumer pressures and macroeconomic uncertainties [31][32] - The company updated its sales expectations for the year, projecting net sales between $11.5 billion and $11.7 billion, with comp sales growth expected to be flat to up 1.5% [31][32] Other Important Information - The company launched 19 new brands during the quarter, many of which are exclusive to Ulta Beauty [15] - The active loyalty member base reached a record 45 million, up 3% year over year [14] Q&A Session Summary Question: Insights on the Ulta Beauty Unleashed plan - Management highlighted improved in-store execution and marketing efforts as key contributors to the success of the Ulta Beauty Unleashed plan [36][40] Question: Full year outlook and promotional strategies - Management discussed expectations for comp sales growth and the rationality of promotions, emphasizing a cautious approach due to market dynamics [42][45] Question: Newness and innovation pipeline - Management expressed confidence in a balanced pipeline of new products across categories, with a focus on exclusivity [48][50] Question: Demand improvements and competitive intensity - Management noted that competitive intensity remains high, but the company is well-positioned to drive market share through its initiatives [51][54] Question: E-commerce growth drivers - Management attributed the 10% growth in e-commerce to enhancements in digital capabilities and a focus on app engagement [92][93]

Financial Data and Key Metrics Changes - Total revenues for Q1 2025 were $392.4 million, an increase from $388.5 million in Q1 2024, primarily driven by a 3.1% increase in comparable restaurant revenue and a 6.8% increase in net menu price, despite a 3.5% decline in guest traffic [10][11] - Adjusted EBITDA for Q1 2025 was $27.9 million, an increase of $14.5 million compared to Q1 2024, attributed to cost efficiency gains and menu price increases [12] - Restaurant level operating profit as a percentage of restaurant revenue was 14.3%, an increase of 330 basis points compared to the same quarter last year [11] Business Line Data and Key Metrics Changes - The revamped Red Robin Royalty program had approximately 15.3 million members at the end of Q1 2025, contributing to increased guest engagement and frequency of visits [8] - The company has focused on operational efficiency through its managing partner program, which incentivizes restaurant leaders to achieve strong financial results [7] Market Data and Key Metrics Changes - The company anticipates comparable restaurant sales to remain generally unchanged at approximately 0% for the year, with expectations of a decline of about 3% in Q2 2025 due to headwinds from the loyalty program changes [14][16] - Guest traffic was down 3.5% in Q1 2025, with expectations of a continued decline of approximately 4% for the remainder of the year [32][34] Company Strategy and Development Direction - The company aims to strengthen its financial position by reducing debt and increasing free cash flow generation, allowing for greater flexibility in investment opportunities [22] - Key priorities for 2025 include retaining operational improvements, returning to sustainable traffic growth, and reinvesting in restaurant facilities and atmosphere [19][20] - The company is focused on enhancing guest engagement and marketing strategies to restore Red Robin as a preferred dining option [20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's progress but acknowledged the need for continued improvement in guest experience and traffic growth [18][19] - The broader macroeconomic environment and consumer trends have led to a more cautious outlook for the remainder of the year, prompting a reduction in revenue guidance [14][15] Other Important Information - The company ended Q1 2025 with $24.2 million in cash and cash equivalents, $9.1 million in restricted cash, and $35 million available under its revolving line of credit [13] - The company plans to close 10 to 15 restaurants by the end of the year, with closures expected to be evenly spread throughout the year [48] Q&A Session Summary Question: Profitability in Q1 and maintaining guidance - Management noted that efficiency gains in labor contributed significantly to Q1 profitability, despite anticipated pressure from tariffs and traffic declines [30][31] Question: Menu price contribution throughout the year - Management expects menu price contribution to decline throughout the year, projecting about 4% check growth in Q2, 4% in Q3, and 2% in Q4 [35] Question: Loyalty program effectiveness - Management confirmed that the loyalty program is performing well, with significant opportunities for further growth and engagement [39] Question: Traffic trends and promotions - Management indicated that traffic trends are consistent with previous expectations, and the Hot Honey promotion has exceeded expectations [46][47] Question: Selling expenses and media spend outlook - Management expects selling expenses to remain around $30 million for the year, with some variability quarter to quarter [68] Question: Refinancing debt outlook - Management is optimistic about refinancing opportunities following strong Q1 results, but no specific timeline was provided [72][73]

Financial Data and Key Metrics Changes - The company reported a consolidated revenue of $1.1 billion, a decline of 5% compared to the previous year, with comparable sales decreasing by 3% [19][20] - Adjusted operating loss for the quarter was $68 million, with an adjusted loss per share of $0.29 [4][22] - Gross profit dollars were $322 million, with a gross margin of 29.6%, impacted by approximately $75 million in inventory write-downs [20][21] Business Line Data and Key Metrics Changes - American Eagle brand comparable sales were down 2%, while Aerie brand comparable sales declined by 4% [4][19] - Aerie faced challenges in soft apparel, particularly in fleece tops and shorts, while certain categories like intimates showed improvement [12][14] - American Eagle saw growth in women's business, particularly in social casual dressing and achieved its best quarter ever in fleece [15][16] Market Data and Key Metrics Changes - Traffic was reported to be up across brands and channels, although the overall performance was constrained by lower average unit retails (AURs) and conversion rates [19][30] - The company is focusing on diversifying its supply chain and reducing sourcing exposure to China to under 10% this year [23] Company Strategy and Development Direction - The company is committed to optimizing operations and strengthening its supply chain, including closing two Edge fulfillment centers, which is expected to generate annualized savings of approximately $5 million [6][22] - Capital allocation priorities include investments for long-term growth while returning capital to shareholders, including a $200 million accelerated share repurchase program [8][9] - The company is focused on improving product performance and preparing for the back-to-school season with fresh merchandise [24][36] Management's Comments on Operating Environment and Future Outlook - Management expressed disappointment with the first quarter performance but remains optimistic about the second half of the year, hoping for improvement as the macro environment stabilizes [4][28] - The company has paused full-year guidance until greater visibility is achieved but expects to see improvement in growth and profitability as the year progresses [22][24] Other Important Information - The company recorded a non-GAAP charge of $17 million related to the closure of fulfillment centers [6][22] - SG&A expenses increased by 2% due to higher advertising investments, with a focus on customer-facing spend [21][63] Q&A Session Summary Question: What is the view of the consumer today and its impact on the retail landscape? - Management remains optimistic about the consumer outlook, hoping for positive economic stimulation from potential tax plans [28] Question: Can you break down the assumptions for gross margin and promotional activity in Q2? - The company expects to maintain a similar comp expectation as Q1, embedding promotional activity to clean inventory for back-to-school [30][31] Question: What are the merchandising issues and how quickly can improvements be made? - Management acknowledged product misses but is working swiftly to address these issues and prepare for back-to-school [35][36] Question: How is the capital allocation and CapEx expenditure being approached? - The company has reduced CapEx guidance to $275 million, recadencing projects to preserve cash [44] Question: How are both brands trending relative to the Q2 comp guide? - Both brands are trending similarly to the guidance of down 3% for Q2 [82] Question: What is the outlook for promotions and SG&A expenses? - Promotions are expected to continue in the near term to clean inventory, with SG&A projected to be flat for the year [59][63] Question: How did digital performance compare to stores during the quarter? - There was an uptick in digital performance, with the company leaning into this channel during the quarter [67] Question: What are the plans for inventory for the remainder of the year? - The company is planning inventory in line with sales expectations and maintaining flexibility in buying [88]

Financial Data and Key Metrics Changes - For the full year of 2024, the bank increased its net income by $11.2 million or 294% over 2023 [15] - Total assets increased by $8.5 million or 3.9% and total loans outstanding increased by $42 million or 3.3% [15] - For the first quarter of 2025, commercial bank operating earnings increased by 39% compared to the same quarter last year [16] - Return on average assets improved from 0.25% in Q1 2024 to 0.94% in Q1 2025 [16] - Pre-tax pre-provision return on average assets increased from 0.85% to 1.2% in Q1 2025 [16] Business Line Data and Key Metrics Changes - Net interest income improved by 18% and net interest margin improved by 15% compared to the year-ago quarter [15] - Tangible common equity reached $234.7 million on March 31, 2025, representing a 10.1% increase from the previous year [49] - Loans past due 30 days or more decreased by $7.2 million or 84% from $8.4 million at December 31, 2024 [49] Market Data and Key Metrics Changes - Total assets increased at an annual rate of 7.6% in Q1 2025, total loans increased at an annual rate of 2.5%, and total deposits increased at an annual rate of 7.7% [55] Company Strategy and Development Direction - The company emphasizes building long-term relationships with clients and utilizing technology to enhance performance [19][51] - Recent technology initiatives include partnerships with Clarivus for data analytics and the Q2 digital platform for online banking solutions [21][54] - The bank aims to continue growth and profitability through a relationship-driven strategy coupled with smart technology use [25] Management's Comments on Operating Environment and Future Outlook - Management reported strong credit quality and a well-capitalized balance sheet, indicating confidence in future earnings growth [16][17] - The bank's efficiency improved from 64% in 2023 to 58.1% in the most recent quarter, suggesting operational improvements [25] Other Important Information - The bank repurchased 415,000 shares of its common stock for an average price of $11.14 per share, with all repurchased shares canceled [18][50] - The Center for Disaster Philanthropy was awarded the 2025 El Burwell Gunn Citizenship Award for its community support efforts [26][27] Q&A Session Summary Question: Were there any questions regarding the election of directors? - No questions were raised regarding the election of directors [11] Question: Were there any questions about the compensation of executive officers? - No questions were raised regarding the compensation of executive officers [12] Question: Were there any questions about the appointment of the independent registered public accounting firm? - No questions were raised regarding the appointment of the independent registered public accounting firm [13]

Financial Data and Key Metrics Changes - The meeting confirmed that as of March 31, 2025, there were approximately 77 billion shares outstanding, with nearly 90% represented at the meeting, indicating strong shareholder engagement [5][6][10] Business Line Data and Key Metrics Changes - No specific data on business lines or key metrics was provided in the meeting content Market Data and Key Metrics Changes - No specific market data or key metrics were discussed during the meeting Company Strategy and Development Direction and Industry Competition - The company emphasized its commitment to delivering real-world impact and maintaining integrity in product design, indicating a focus on long-term value creation [18][19] - The management expressed excitement about future opportunities and challenges, suggesting a proactive approach to industry competition [19] Management's Comments on Operating Environment and Future Outlook - Management highlighted the importance of staying grounded in values and tackling harder problems to create real value, reflecting a positive outlook on future growth [19] - The CEO expressed optimism about the company's direction and the trust placed in them by shareholders [19][20] Other Important Information - The meeting included a formal voting process for director nominations and management proposals, all of which were approved [10][11] Q&A Session All Questions and Answers - There were no questions submitted during the Q&A session, indicating a lack of immediate inquiries from shareholders [17]

Financial Data and Key Metrics Changes - The company has committed to achieving 15% to 17% EPS growth for the year and aims to hit a target of $3.5 billion for Clover [11][12][21] Business Line Data and Key Metrics Changes - Clover volumes have decelerated to 8% in the first quarter, but normalized growth is expected to be in the low double digits for the second quarter [17][19] - The non-Clover SMB business generated approximately $4 billion in revenues and is experiencing growth [46] Market Data and Key Metrics Changes - The company holds less than 10% market share in the U.S. for both volume and merchants, with international market share close to zero, indicating significant growth potential [29][30] - The company is expanding into new markets, including Brazil, where it has established partnerships with major banks [39][40] Company Strategy and Development Direction - The strategy remains unchanged, focusing on winning clients and growing with them by providing value-added products and services [10][11] - The company is emphasizing a client-first mindset and operational excellence to enhance average revenue per client [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth opportunities in both the merchant and financial institution segments, highlighting the interconnectedness of these businesses [6][60] - The company is well-positioned to assist banks in a competitive landscape dominated by technology [63][64] Other Important Information - The partnership with ADP is expected to enhance Clover's distribution and referral relationships, providing a more integrated suite of services for small businesses [41][44] - The company is focusing on expanding its presence in the healthcare and government sectors, which are seen as attractive growth areas [80][81] Q&A Session Summary Question: What changes to Clover's volume growth can be expected? - Management indicated that Clover's volume growth has been in the low double digits when excluding gateway conversions, with no signs of market saturation [19][20] Question: What is the right growth algorithm for Clover? - Management stated that the revenue mix will depend on customer engagement with Clover, emphasizing the importance of building a highly integrated platform [24][25] Question: How is the SMB book excluding Clover performing? - The non-Clover SMB business is generating approximately $4 billion in revenues and is growing, with plans to increase back book conversion to Clover [46][47] Question: What is the company's capital allocation philosophy? - The company maintains a strong focus on funding its businesses, share buybacks, and strategic M&A opportunities, with no changes to its existing framework [92][95] Question: What are the less understood aspects of Fiserv? - Management highlighted the competitive advantage of having both FI and merchant services under one roof, the global growth opportunity, and the quality of its workforce as underappreciated factors [97][102]

Financial Data and Key Metrics Changes - The company has nearly tripled the number of phase three assets since 2021, now having over 20 unique assets with blockbuster potential launching in the next three to five years [5][6] - The company has invested over $70 billion into business development over the last few years, enhancing its pipeline and portfolio [9] Business Line Data and Key Metrics Changes - The late-stage pipeline is strong, with two assets, WIN Revere and Cat Baxtive, already in the midst of launching and performing well [5][6] - The early-stage pipeline includes 50 different programs moving from phase one to phase two, indicating robust development activity [6] Market Data and Key Metrics Changes - The company is focusing on US manufacturing to mitigate tariff risks and has invested $12 billion in manufacturing capital in the US from 2018 to 2024 [14][15] - The company plans to invest an additional $9 billion in manufacturing and R&D facilities by 2028 [15] Company Strategy and Development Direction - The company aims to grow through the KEYTRUDA loss of exclusivity (LOE) by focusing on innovation and expanding its product portfolio [8][10] - The strategic framework includes investing in and augmenting the pipeline, with a focus on oncology and expanding into cardiometabolic and immunology sectors [9][91] Management's Comments on Operating Environment and Future Outlook - Management acknowledges significant macroeconomic challenges, including MFN (Most Favored Nation) pricing and tariffs, but remains focused on innovation as the path to long-term sustainability [10][12] - The company is actively engaging with the administration regarding drug pricing reforms and believes that addressing middlemen costs is crucial for lowering drug prices [29][32] Other Important Information - The company is committed to producing both drug product and drug substance in the US by 2026, which aligns with its strategy to enhance domestic manufacturing capabilities [21][23] - The company is exploring opportunities in combination therapies and bispecific antibodies to enhance its pipeline in immunology [88][90] Q&A Session Summary Question: How does the company rank the various sectoral pressures? - Management identified MFN as the most significant policy question, followed by tariffs and FDA changes, but noted that these have not yet had a direct impact on operations [12][16] Question: What steps has the company taken regarding KEYTRUDA and tariffs? - The company has shifted to US manufacturing for KEYTRUDA and brought in inventory to mitigate tariff impacts, viewing this as a no-regret move [20][21] Question: What is the company's strategy for the subcutaneous KEYTRUDA? - The company plans to price the subcutaneous version competitively to maximize adoption and access, ensuring it aligns with the IV pricing [53][54] Question: What is the outlook for WIN Revere? - The launch of WIN Revere is progressing well, with expectations for steady growth driven by physician confidence and safety profiles [57][58] Question: What is the potential for enicetide in the market? - The company believes enicetide can democratize access to LDL cholesterol lowering, with a significant unmet need in cardiovascular disease [71][76]

Financial Data and Key Metrics Changes - The company reported a 2.7% growth in expenses for 2023, down from the previous two years of 8% growth, indicating improved cost management [30] - The company aims for mid-single-digit growth in net interest income (NII) for the year, reflecting a stable revenue trajectory [102] Business Line Data and Key Metrics Changes - The market and wealth services segment is the fastest growing and highest margin segment, contributing over half of the company's pretax income [38] - The investment and wealth management segment is focused on improving margins and has been challenged in revenue growth, with a target of returning to a 25% plus margin [47][96] - The security services segment is working on improving growth, with a focus on enhancing efficiency and reducing costs [41] Market Data and Key Metrics Changes - Approximately 40% of the company's revenues come from outside the US, highlighting its global market presence [7] - The company is positioned to benefit from active markets and increased trading activity, which are essential for its platform-based business model [5] Company Strategy and Development Direction - The company is undergoing a transformation to become more of a solutions provider, focusing on de-siloing operations and enhancing cross-selling opportunities [19][25] - The strategic pillars include being more client-focused, improving operational efficiency, and fostering a strong company culture [20][22] - The company is investing in AI and digital assets, anticipating significant benefits from these technologies in the coming years [33][88] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of stability in the macroeconomic environment and its impact on client behavior, noting that their platforms are designed to operate effectively across various market conditions [11][53] - The company is optimistic about capturing megatrends in the market, particularly in private markets and digital assets, which are seen as growth opportunities [74][88] Other Important Information - The company has implemented a new commercial model to enhance sales processes and improve client engagement, which has already shown early positive results [24][34] - The focus on micro-innovations is expected to drive organic growth, with numerous small initiatives cumulatively adding significant value [70] Q&A Session Summary Question: What are the expectations for net interest income growth? - The company has guided for mid-single-digit growth in NII for the year, with an emphasis on stability and predictability in revenue generation [102] Question: How is the company addressing the challenges in the investment and wealth management segment? - New leadership has been brought in to focus on improving top-line results and distribution strategies, aiming to leverage existing capabilities more effectively [96][100] Question: What role does AI play in the company's future strategy? - AI is viewed as a transformative technology that will significantly impact corporate operations and is a key area of investment for the company [88]