{
  "report_rows": [
    {
      "kpi": "Operating EPS",
      "prediction": "BEAT",
      "answer": "pred ~$2.95 vs. cons $2.89",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Net revenue",
      "prediction": "BEAT",
      "answer": "pred ~$3.93B vs. cons $3.875B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "PCG net new assets",
      "prediction": "BEAT",
      "answer": "pred ~$22.0B vs. cons $19.47B",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "Asset-management fees (3Q FY26)",
      "prediction": "BETTER",
      "answer": "prior guide +~1% QoQ; expected achieve/exceed; report-period cons $2.060B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "NII + RJBDP fees (3Q FY26)",
      "prediction": "UNKNOWN",
      "answer": "prior guide +~1% QoQ; no like-for-like consensus",
      "confidence": "LOW"
    },
    {
      "kpi": "FY26 non-compensation expense",
      "prediction": "UNCHANGED",
      "answer": "prior guide ~$2.3B under company-adjusted definition; no like-for-like consensus",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Capital-markets outlook (4Q FY26)",
      "prediction": "UNCHANGED",
      "answer": "constructive pipeline; 4Q IB cons $297M",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": 1.0,
  "day1_confidence": "LOW",
  "day5_residual_pct": 0.0,
  "day5_path": "STABILIZE",
  "day5_rationale": "STABILIZE \u2014 elevated pre-print bar caps follow-through",
  "day5_confidence": "LOW"
}