{
  "report_rows": [
    {
      "kpi": "Operating EPS",
      "prediction": "MISS",
      "answer": "pred ~$0.650 vs. cons $0.658",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Operating revenue",
      "prediction": "IN-LINE",
      "answer": "pred ~$1.770B vs. cons $1.783B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Total net flows",
      "prediction": "BEAT",
      "answer": "pred ~$12.50B vs. cons $11.50B",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY26 margin trajectory",
      "prediction": "UNCHANGED",
      "answer": "guide high-29s Q4 / 27s FY26 vs. cons UNVERIFIED",
      "confidence": "LOW"
    },
    {
      "kpi": "FY26 private-markets fundraising",
      "prediction": "UNCHANGED",
      "answer": "guide >$30B vs. cons UNVERIFIED",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": 2.5,
  "day1_confidence": "LOW",
  "day5_residual_pct": 4.0,
  "day5_path": "FOLLOW-THROUGH",
  "day5_rationale": "FOLLOW-THROUGH \u2014 flows and maintained margin path support estimates",
  "day5_confidence": "LOW"
}