Satya Nadella: I would say two things, and then Amy, please feel free to add. One is, it absolutely is, starts with workloads that they have at scale just because of the visibility one has on what’s driving essentially the consumption meters. And there is real guidance that we ourselves the product to say, here are the things that you could do optimize your billing. And so €“ so, that’s sort of what is the fundamental thing, when we say do more with less and how can we help, that’s sort of the first place customers go to. And then the next piece, really, I think is going to be about how they take the optimization that they get and the savings they get along workload and what new project starts. And that’s where I think there is a reprioritization, when should we start the new project.
And those are the two things that are happening simultaneously. They don’t perfectly match, but one of the things is they are looking to back some savings on some workloads and then start. So, that’s where I think a little bit of what has to happen is the cycle time where the optimization cycle finishes, the projects start and then the projects ramp. And I think that, that’s what at least on the cloud consumption side you are seeing. And on the per user side, it’s slightly different, which is in per user also, there was real acceleration when it comes to purchases of per user licenses, whether it is for knowledge workers or frontline workers. And again, they are all now making sure that they are all getting used and the usage is going up. Like when we look at our Office 365 usage, all those numbers are pretty up year-over-year in a substantial way.
Like I gave you some of the Teams numbers, in fact, one of the things was what will happen to the Teams usage after the pandemic, guess what, they’re up. And so those are the good news. And now once we cycle through that again, the seats will get added and premium, like I am very, very excited about Teams Pro coming out in a couple of weeks. And those are all the things that people will be able to sort of use to ensure that the ARPUs are also going up with value.
Amy Hood: And Mark, because I do think it’s actually quite hard to separate from a driver perspective how much is optimization versus macro. It’s all related when you start to say what’s the best ROI I can get on every budget dollar I spend in our job as a partner to so many of these customers is to help them do that. So, Satya has talked a bit about Azure. Let me talk a little bit about the per user where the way it showed itself is we had very high renewal rates and very good suite performance at renewal, meaning what we tend to call internally recapture. While we had some more challenges on maybe a standalone sale of a new product where the cycle is going to be a little longer, right, and you are going to have to show that cost savings. But the suite sale, the value in that showed itself in terms of strong E5. You can see the ARPU growth and you can see the consistency potentially in both renewal rate and in, frankly, the Microsoft 365 performance.
Mark Moerdler: Perfect. Thank you very much.
Brett Iversen: Yes. Thanks Mark. Joe, next question please.
Operator: Our next question comes from the line of Kash Rangan with Goldman Sachs. Please proceed.
Kash Rangan: Thank you very much. Satya, I am curious if you could talk about how long the cycle time for optimization lasts. Are we talking a couple of quarters, few quarters or multiple years, because I do take your comment about tech spending as a percentage of global GDP going higher? So, if that were to happen, this €“ how do you frame the duration of this optimization that’s happening in the industry? Thank you so much.
