{
  "report_rows": [
    {
      "kpi": "Adjusted EPS",
      "prediction": "BEAT",
      "answer": "pred ~$5.75 vs. cons $5.61",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Markets revenue",
      "prediction": "BEAT",
      "answer": "pred ~$10.25B vs. cons $10.00B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Net interest income",
      "prediction": "IN-LINE",
      "answer": "pred ~$25.75B vs. cons $25.60B",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "Net interest income excluding Markets",
      "prediction": "BETTER",
      "answer": "guide ~$95.5B vs. cons $95.0B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Adjusted expenses",
      "prediction": "LOWER",
      "answer": "guide ~$106.5B vs. cons $106.0B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Card net charge-off rate",
      "prediction": "UNCHANGED",
      "answer": "guide ~3.4% vs. cons 3.4% (FY2026)",
      "confidence": "HIGH"
    }
  ],
  "day1_residual_pct": -1.3,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -1.8,
  "day5_path": "FOLLOW-THROUGH",
  "day5_rationale": "Elevated buy-side expectations limit credit for the trading beat; higher expenses offset the modest NII upgrade, leaving 2026\u20132027 EPS revisions near ~0% versus ~2% headline EPS upside and encouraging continued de-risking after day 1.",
  "day5_confidence": "MEDIUM"
}