{
  "report_rows": [
    {
      "kpi": "Diluted EPS",
      "prediction": "BEAT",
      "answer": "pred ~$5.77 vs. cons $5.61",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Managed revenue",
      "prediction": "BEAT",
      "answer": "pred ~$50.2B vs. cons $49.5B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Markets revenue",
      "prediction": "BEAT",
      "answer": "pred ~$11.9B vs. cons $11.6B",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "Net interest income excluding Markets",
      "prediction": "UNCHANGED",
      "answer": "guide ~$95.0B vs. cons $95.0B (FY2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "Adjusted expenses",
      "prediction": "UNCHANGED",
      "answer": "guide ~$106.0B vs. cons $106.0B (FY2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "Card Services net charge-off rate",
      "prediction": "LOWER",
      "answer": "guide ~3.3% vs. cons 3.4% (FY2026)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": 0.7,
  "day1_confidence": "LOW",
  "day5_residual_pct": -1.8,
  "day5_path": "FADE",
  "day5_rationale": "A ~2.9% EPS beat versus consensus is likely offset by FY2026 ex-Markets NII guidance of ~$95.0B versus ~$95.0B consensus and expense guidance of ~$106.0B versus ~$106.0B consensus; the lack of durable out-period revenue upside leaves forward EPS revisions near flat-to-down after a trading-led beat.",
  "day5_confidence": "MEDIUM"
}