{
  "report_rows": [
    {
      "kpi": "Adjusted diluted EPS",
      "prediction": "BEAT",
      "answer": "pred ~$2.21 vs. cons $2.18",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Net revenues",
      "prediction": "BEAT",
      "answer": "pred ~$2.86B vs. cons $2.82B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Exchange transaction revenues",
      "prediction": "BEAT",
      "answer": "pred ~$1.23B vs. cons $1.19B",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "3Q26 adjusted operating expense",
      "prediction": "BETTER",
      "answer": "guide ~$1.045B vs. cons $1.055B (3Q26)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY26 adjusted operating expense",
      "prediction": "UNCHANGED",
      "answer": "guide ~$4.170B vs. cons $4.170B (FY26)",
      "confidence": "HIGH"
    },
    {
      "kpi": "FIDS recurring-revenue growth outlook",
      "prediction": "UNCHANGED",
      "answer": "guide ~6.0% vs. cons 6.0% (FY26)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Mortgage Technology recurring-revenue outlook",
      "prediction": "LOWER",
      "answer": "guide ~0.0% vs. cons 1.0% (3Q26)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": 2.4,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 1.1,
  "day5_path": "FADE",
  "day5_rationale": "A ~$2.21 2Q26 adjusted-EPS result versus ~$2.18 consensus and ~$2.86B revenue versus ~$2.82B should support an initial positive move, but unchanged ~$4.170B FY26 expense guidance versus ~$4.170B consensus and a ~0.0% Mortgage recurring-revenue outlook versus 1.0% consensus leave limited upward revision to the 2H26 earnings base.",
  "day5_confidence": "MEDIUM"
}