{
  "report_rows": [
    {
      "kpi": "Equities Revenue",
      "prediction": "BEAT",
      "answer": "pred ~$5.35B vs. cons $5.12B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Investment Banking Revenue",
      "prediction": "BEAT",
      "answer": "pred ~$3.10B vs. cons $2.95B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FICC Revenue",
      "prediction": "BEAT",
      "answer": "pred ~$3.85B vs. cons $3.79B",
      "confidence": "LOW"
    }
  ],
  "guide_rows": [
    {
      "kpi": "IB Backlog / Pipeline (FY2026)",
      "prediction": "UNCHANGED",
      "answer": "guide: constructive reaffirmation vs. cons FY IB $11.31B",
      "confidence": "HIGH"
    },
    {
      "kpi": "AWM Durable Revenue (FY2026)",
      "prediction": "UNCHANGED",
      "answer": "guide: NIM headwind reiterated; double-digit mgmt fee growth vs. cons FY AWM $17.27B",
      "confidence": "HIGH"
    },
    {
      "kpi": "Capital Return (FY2026)",
      "prediction": "BETTER",
      "answer": "guide: buyback capacity highlighted; dividend raise already public",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": -1.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -2.5,
  "day5_path": "STABILIZE",
  "day5_rationale": "STABILIZE \u2014 beat absorbed into actuals; no estimate cuts triggered by maintained guide; mild drift as no-raise reality sets in, then stabilizes",
  "day5_confidence": "MEDIUM"
}