{
  "report_rows": [
    {
      "kpi": "Total Revenue (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$12.00B vs. cons $11.74B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Non-GAAP Diluted EPS (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$1.72 vs. cons $1.60",
      "confidence": "HIGH"
    },
    {
      "kpi": "Eliquis Worldwide Net Revenue (Q2 2026)",
      "prediction": "MISS",
      "answer": "pred ~$3.85B vs. cons ~$4.05B",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 Total Revenue Guidance",
      "prediction": "BETTER",
      "answer": "guide ~$47.0B-$48.5B (mid ~$47.75B) vs. cons ~$47.1B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 Non-GAAP EPS Guidance",
      "prediction": "BETTER",
      "answer": "guide ~$6.20-$6.50 (mid ~$6.35) vs. cons $6.32 (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Eliquis WW Full-Year Growth Commentary",
      "prediction": "UNCHANGED",
      "answer": "guide ~10%-15% (reaffirmed) vs. cons ~12% (FY2026)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": 1.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 0.5,
  "day5_path": "FADE",
  "day5_rationale": "BMY enters the print near 52-week highs, up ~19% YTD and trading above the Street's average PT ($62.65 vs $63.67 close), so a beat-and-modest-raise is largely pre-positioned; the FY26 guide raise mainly reflects H1 upside already banked (Q1 beat revenue by $580M) rather than new out-period acceleration, while the Eliquis wholesaler-inventory reversal and looming EU (Nov'26)/US (2027) LOE keep H2 estimate revisions capped. Expect an initial pop on the EPS/revenue beat that partially fades over the week as sell-side models the Eliquis optics miss and discounts the raise as 'catch-up' rather than a step-change in the multi-year growth algebra, with the Iberdomide PDUFA (Aug 17) becoming the next real catalyst.",
  "day5_confidence": "MEDIUM"
}