{
  "report_rows": [
    {
      "kpi": "Google Search & other revenue",
      "prediction": "BEAT",
      "answer": "pred ~$66.9B vs. cons $65.6B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Google Cloud revenue",
      "prediction": "IN-LINE",
      "answer": "pred ~$24.3B vs. cons $24.1B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Consolidated revenue",
      "prediction": "BEAT",
      "answer": "pred ~$120.2B vs. cons $118.6B",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 CapEx guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~$185B vs. cons $185B (FY2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "Google Cloud operating-margin headwind from Wiz",
      "prediction": "UNCHANGED",
      "answer": "guide ~3 percentage points vs. cons 3 percentage points (FY2026 remainder)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "2027 CapEx growth commentary",
      "prediction": "LOWER",
      "answer": "guide ~$235B vs. cons $245B (FY2027)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": 3.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 5.0,
  "day5_path": "FOLLOW-THROUGH",
  "day5_rationale": "A Search and consolidated-revenue beat, paired with maintained FY2026 CapEx near $185B rather than another increase, should lift FY2026-FY2027 revenue and EPS estimates. Inference: the implied 2027 CapEx framework near $235B still supports capacity expansion but is less punitive to free-cash-flow assumptions than feared, allowing post-call revisions to reinforce the initial move.",
  "day5_confidence": "MEDIUM"
}