{
  "report_rows": [
    {
      "kpi": "Total revenue",
      "prediction": "BEAT",
      "answer": "pred ~$2.47B vs. cons $2.42B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Non-GAAP diluted EPS",
      "prediction": "IN-LINE",
      "answer": "pred ~$2.98 vs. cons $2.98",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "LEQEMBI global in-market sales",
      "prediction": "BEAT",
      "answer": "pred ~$195M vs. cons $190M",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY 2026 total revenue, inclusive of Apellis",
      "prediction": "BETTER",
      "answer": "guide ~$9.75B vs. cons $9.70B (FY 2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY 2026 non-GAAP diluted EPS, inclusive of Apellis and updated business-development charges",
      "prediction": "LOWER",
      "answer": "guide ~$10.75 vs. cons $11.40 (FY 2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "SYFOVRE plus EMPAVELI revenue growth",
      "prediction": "BETTER",
      "answer": "guide ~17% vs. cons 16% (FY 2026)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": -4.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -6.0,
  "day5_path": "FOLLOW-THROUGH",
  "day5_rationale": "A revenue beat of ~$2.47B vs. $2.42B and resilient LEQEMBI sales of ~$195M vs. $190M are likely outweighed by FY 2026 EPS guidance near ~$10.75 versus ~$11.40 consensus. The incremental Q3 acquired-I\u200b\u200bPR&D/upfront-charge burden and Apellis financing/integration math should drive out-period estimate reductions rather than a one-day reaction only.",
  "day5_confidence": "MEDIUM"
}