Part 2/9:
According to Alex Zukin, Managing Director and Head of Software Research at Wolf Research, the earnings report showed results that were largely in line with expectations, except for a notable decline in the Remaining Performance Obligations (RPO). This metric acts as a predictive gauge, and its decrease marks a departure from the consistent upward trajectory seen over the recent quarters. Zukin acknowledged a significant $30 billion uptick in RPO between Q2 of the previous year and Q4, signifying strong bookings at that time. However, the recent downturn in RPO has raised questions about the bookings capacity moving forward and has caught the attention of analysts and investors alike.