Persistent reported 1.8% QoQ decline in revenues as US$127mn (in line with our estimates) as Alliance Business de-grew 28% QoQ, partially off-set by 3.8% QoQ growth in Services (Technology+ Digital) Segment. OPM for the quarter improved 50bps QoQ to 9.2% (our estimate: 8.1%) led by lower volumes in reseller business in Q4. Technology & Digital segment (collectively 74% of revenues) continue to drive topline growth with 2.2% and 7% QoQ growth. PSYS expects these segments to outperform based on positive client interactions,...