{
  "report_rows": [
    {
      "kpi": "Google Cloud Revenue (2Q26)",
      "prediction": "BEAT",
      "answer": "pred ~$23.3B vs. cons $22.51B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Google Search & Other Revenue (2Q26)",
      "prediction": "BEAT",
      "answer": "pred ~$64.5B vs. cons $63.32B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Operating Margin - Operating (2Q26)",
      "prediction": "BEAT",
      "answer": "pred ~48.5% vs. cons 47.77%",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 CapEx (FY2026)",
      "prediction": "UNCHANGED",
      "answer": "guide ~$180-190B vs. cons $187.7B",
      "confidence": "HIGH"
    },
    {
      "kpi": "2027 CapEx directional (FY2027)",
      "prediction": "UNKNOWN",
      "answer": "guide 'significantly above 2026' or preliminary range",
      "confidence": "LOW"
    },
    {
      "kpi": "Cloud demand/supply tone (Q3 2026)",
      "prediction": "BETTER",
      "answer": "easing constraints, demand exceeds supply",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": 3.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 4.5,
  "day5_path": "FOLLOW-THROUGH",
  "day5_rationale": "FOLLOW-THROUGH \u2014 Cloud estimate revisions pull H2 2026 numbers higher; sell-side raises Q3/Q4 Cloud consensus",
  "day5_confidence": "MEDIUM"
}