{
  "report_rows": [
    {
      "kpi": "Adjusted EPS",
      "prediction": "BEAT",
      "answer": "pred ~$0.97 vs. cons $0.95",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Net revenue",
      "prediction": "BEAT",
      "answer": "pred ~$1.45B vs. cons $1.42B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Financial Technology ARR growth",
      "prediction": "IN-LINE",
      "answer": "pred ~15% vs. cons 15%",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "Adjusted operating expense guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~$2.515B midpoint vs. cons $2.515B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Financial Technology ARR growth commentary",
      "prediction": "BETTER",
      "answer": "guide ~16% exit growth vs. cons 15% (H2 2026)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": 2.4,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 1.4,
  "day5_path": "FADE",
  "day5_rationale": "Day-5 residual ~+1.4% vs. day-1 ~+2.4%: strong Index and trading activity should produce a modest headline beat, but normalized Financial Technology revenue, unchanged expense guidance and limited out-period EPS revisions should partially fade the initial gain.",
  "day5_confidence": "MEDIUM"
}