Jaws measures the difference between the rates of change in revenue and costs. Positive jaws occurs when the figure for the percentage change in revenue is higher than, or less negative than, the corresponding rate for costs. We calculate adjusted jaws using adjusted revenue and costs.
Our target is to maintain positive adjusted jaws.
Adjusted jaws for 9M17 was negative 1.3%, although we achieved positive adjusted jaws in our three largest global businesses. We remain committed to delivering positive adjusted jaws for the full year.