{
  "report_rows": [
    {
      "kpi": "Adjusted diluted EPS (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$2.00 vs. cons $1.92",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Consolidated net revenue (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$2.74B vs. cons $2.70B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FIDS recurring revenue (Q2 2026)",
      "prediction": "IN-LINE",
      "answer": "pred ~$525M vs. cons $522M",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "Adjusted operating expenses",
      "prediction": "UNCHANGED",
      "answer": "guide ~$4.17B vs. cons $4.17B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Exchanges recurring-revenue growth",
      "prediction": "UNCHANGED",
      "answer": "guide ~7.5% vs. cons 7.5% (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Mortgage Technology revenue growth",
      "prediction": "UNCHANGED",
      "answer": "guide ~5.0% vs. cons 5.0% (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Adjusted operating expenses",
      "prediction": "UNCHANGED",
      "answer": "guide ~$1.045B vs. cons $1.045B (Q3 2026)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": 0.9,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -0.6,
  "day5_path": "FADE",
  "day5_rationale": "A modest headline beat should support the initial reaction, but unchanged recurring-revenue and expense guidance leaves limited upward revision potential. Out-period estimates are likely to reflect normalized energy transaction revenue and tougher second-half comparisons, causing the day-1 gain to fade.",
  "day5_confidence": "MEDIUM"
}