{
  "report_rows": [
    {
      "kpi": "Q2'26 AFFO/share",
      "prediction": "BEAT",
      "answer": "pred ~$11.05 vs. cons ~$10.85",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q2'26 Revenue (incl. Hampton xScale)",
      "prediction": "IN-LINE",
      "answer": "pred ~$2.60B vs. cons ~$2.59B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q2'26 Adj. EBITDA",
      "prediction": "IN-LINE",
      "answer": "pred ~$1.375B vs. cons ~$1.370B",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY26 Revenue guide",
      "prediction": "UNCHANGED",
      "answer": "guide ~$10.19B vs. cons ~$10.21B (FY2026, midpoint)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY26 AFFO/share guide",
      "prediction": "BETTER",
      "answer": "guide ~$43.0 vs. cons ~$42.75 (FY2026, midpoint)",
      "confidence": "LOW"
    },
    {
      "kpi": "FY26 Adj. EBITDA margin guide",
      "prediction": "UNCHANGED",
      "answer": "guide ~51% vs. cons ~51% (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q3'26 Revenue guide",
      "prediction": "UNKNOWN",
      "answer": "guide ~$2.63B vs. cons ~$2.64B (Q3 2026)",
      "confidence": "LOW"
    },
    {
      "kpi": "MRR growth (norm. cc)",
      "prediction": "BETTER",
      "answer": "guide/print ~+10% vs. cons ~+10% (Q2 2026, 3rd straight double-digit)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Hampton xScale lease signing",
      "prediction": "UNKNOWN",
      "answer": "pred ~$80M rev/$0.65 AFFO booked vs. cons assumes signed (Q2 2026)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": -1.5,
  "day1_confidence": "LOW",
  "day5_residual_pct": -3.0,
  "day5_path": "FADE",
  "day5_rationale": "Expectations are elevated after a ~35% YTD run and a late-July DLR-sympathy pop to ~$1,084 that already faded to ~$1,035 into the print; beta to SPY is low (~0.4) so most of the move is idiosyncratic. A beat/small guide-bump is largely telegraphed and front-loaded from the Q1 raise, so it reads as a 'quality-of-momentum' quarter. Out-period math is unfavorable: the revenue inflection is back-half-2027 loaded, capex sits at the top end (~$4.1B) with a rising net-interest AFFO headwind (~$200M in 2026) and the flagged ~$7 investment drag, plus overhangs from the new CFO's first full call, Jon Lin's departure, and Hampton-timing credibility risk. Even on a headline beat, sell-side AFFO/share revisions get capped by the interest/capex drag, pulling estimates and the stock lower over 5 days.",
  "day5_confidence": "LOW"
}