{
  "report_rows": [
    {
      "kpi": "Q2 revenue",
      "prediction": "IN-LINE",
      "answer": "pred ~$17.20B vs. cons $17.20B",
      "confidence": "HIGH"
    },
    {
      "kpi": "Q2 adjusted EPS",
      "prediction": "IN-LINE",
      "answer": "pred ~$2.93 vs. cons $2.93",
      "confidence": "HIGH"
    },
    {
      "kpi": "Q2 Software revenue growth",
      "prediction": "IN-LINE",
      "answer": "pred ~5.0% vs. cons 5.0%",
      "confidence": "HIGH"
    }
  ],
  "guide_rows": [
    {
      "kpi": "Constant-currency revenue growth",
      "prediction": "LOWER",
      "answer": "guide ~3.5% vs. cons 4.0% (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Software revenue growth",
      "prediction": "LOWER",
      "answer": "guide ~7.0% vs. cons 8.0% (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Free cash flow",
      "prediction": "LOWER",
      "answer": "guide ~$14.8B vs. cons $15.2B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Operating pretax-margin expansion",
      "prediction": "LOWER",
      "answer": "guide ~50 bps vs. cons 70 bps (FY2026)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": -3.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -6.5,
  "day5_path": "FOLLOW-THROUGH",
  "day5_rationale": "The reported quarter is already priced in, but guidance near 3.5% constant-currency revenue growth and 7.0% Software growth versus consensus of 4.0% and 8.0% would force second-half and FY2027 estimate cuts. Free cash flow near $14.8B versus $15.2B consensus would weaken the valuation floor, allowing negative revisions to drive additional downside after day 1.",
  "day5_confidence": "MEDIUM"
}