And we’ve been really happy with peak season, but it’s hard to deny there’s a lot of uncertainty on the macro front for full year ’23. And certainly, for the first half of the year, I think pretty much every company is calling that out in their earnings call. So given all that, we just didn’t think it was prudent to start adjusting our guidance ranges at this very early stage in the year. It’s February 1 after all. So we left that unchanged. But obviously, as you rightly point out, to the extent there are FX tailwinds, that would be a swing factor either to a higher level within our range or potentially above the top end of our range depending on what kind of tailwind we get from FX as the year goes on. So I would rather kind of wait and see how some of that plays out, whether we see some level of stability around FX.
And then, of course, we’ll revisit it. I’m sure we’ll revisit it next quarter as well. But — and overall, in terms of your question, I don’t think there’s really significant changes to our business outlook really at any of our businesses. As I said in the answer to the question that Lauren asked, we’ve actually seen a good start to the year across most of the businesses. And so we feel like things have firmed up, but we’re also cognizant of the fact there’s a lot of risk and uncertainty and things to battle through. And so we feel good about kind of where we are from an outlook perspective at this point in time. But there’s still a lot of innings to play in the game. So we’re going to see how it plays out.
Operator: The next question comes from Deepak Mathivanan with Wolfe Research.
Deepak Mathivanan : Just want to ask about the Tinder CEO search process. Can you provide an update there? What has been the challenge? And how important is it for a new leader to buy in with the product roadmap that you currently have for 2023 since you’re putting a lot of efforts into these?
Bernard Kim : Thanks, Deepak, for the question. We’re continuing to look for a candidate, but we want to make sure that we’re finding the right person that will work well with the Tinder team. In the meantime, the current leadership team is working really well together. The team has now been in place for six months, and they’ve gone through the kind of gelling well together stage to fully execution mode. We’re making really good progress, and we feel actually really good with where we are. So there’s no rush to add a CEO. We’re only going to do it if the person really brings a lot to the table. Thanks so much for that question, Deepak.
Operator: The next question comes from Benjamin Black with Deutsche Bank.
Benjamin Black : Gary, you mentioned that AOI margin should be at least flat in 2023. Beyond sort of App Store fee changes, what are the swing factors that could potentially drive upside or downside here? And also how should we be thinking about the quarterly margin cadence throughout the year? And then finally, when should we expect to see the impact from the 8% reduction in force?
Gary Swidler : So on your question, Ben, first of all, I want to say we’re very focused on making sure we deliver at least flat, if not improved margins year-over-year this year. That is a goal for us. It’s one of the drivers behind implementing the cost savings plan. So we’re very committed to making sure that, that happens. In terms of the swing factors aside from App Store relief — and by the way, I think App Store relief is likely to be a 2024 event but we’re waiting to see how the regulatory processes continue to play out, but that could be a significant event for us as soon as 2024. I think there’s a few swing factors. The first really would be around Tinder executing on its product roadmap better than what we’re expecting.
