{
  "report_rows": [
    {
      "kpi": "Total net revenue (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$17.0B vs. cons $16.81B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Skyrizi net revenue (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$5.65B vs. cons $5.52B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Rinvoq net revenue (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$2.55B vs. cons $2.49B",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 net revenue guide",
      "prediction": "BETTER",
      "answer": "guide ~$67.6B vs. cons ~$67.4B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 adjusted EPS guide (all-in, incl. IPR&D)",
      "prediction": "LOWER",
      "answer": "guide ~$14.05 (raise $13.95-14.15) vs. cons $14.18 (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 Skyrizi+Rinvoq combined guide",
      "prediction": "BETTER",
      "answer": "guide ~$32.2B vs. cons ~$31.9B (FY2026)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": 1.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 0.5,
  "day5_path": "FADE",
  "day5_rationale": "Clean underlying revenue beat + a modest FY sales raise (Skyrizi/Rinvoq momentum) should spark an initial pop, but the stock is extended (~30% off April lows, ~2% below all-time highs, priced for beat-and-raise). The all-in FY adj EPS framework (~$14.05 mid) does not clear the Street's $14.18 because the $0.17 Q2 IPR&D drag and low-single-digit H2 Skyrizi price erosion cap out-period upside; with EPS revisions flat-to-lower and aesthetics still soft, the day-1 gain partially fades over the week as low-beta (~0.3) defensive positioning limits both upside and downside.",
  "day5_confidence": "LOW"
}