{
  "report_rows": [
    {
      "kpi": "Q2 2026 revenue",
      "prediction": "IN-LINE",
      "answer": "pred ~$12.64B vs. cons $12.58B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q2 2026 operating income",
      "prediction": "BEAT",
      "answer": "pred ~$4.17B vs. cons $4.11B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q2 2026 diluted EPS",
      "prediction": "BEAT",
      "answer": "pred ~$0.81 vs. cons $0.79",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "Q3 2026 revenue",
      "prediction": "BETTER",
      "answer": "guide ~$13.10B vs. cons $13.02B (Q3 2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q3 2026 diluted EPS",
      "prediction": "BETTER",
      "answer": "guide ~$0.84 vs. cons $0.83 (Q3 2026)",
      "confidence": "LOW"
    },
    {
      "kpi": "Full-year revenue",
      "prediction": "LOWER",
      "answer": "guide midpoint ~$51.35B vs. cons $51.44B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Full-year operating margin",
      "prediction": "UNCHANGED",
      "answer": "guide ~31.5% vs. cons 31.5% (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Advertising revenue",
      "prediction": "UNCHANGED",
      "answer": "guide ~$3.0B vs. cons $3.0B (FY2026)",
      "confidence": "HIGH"
    }
  ],
  "day1_residual_pct": 3.8,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 1.2,
  "day5_path": "FADE",
  "day5_rationale": "An in-line revenue print, profit beat and modestly better Q3 guide should trigger relief initially, but a ~$51.35B FY2026 midpoint vs. ~$51.44B consensus implies Q4 revenue of roughly $13.36B vs. consensus near $13.59B. That out-period shortfall should limit upward revisions and partially reverse the day-1 gain.",
  "day5_confidence": "MEDIUM"
}