{
  "report_rows": [
    {
      "kpi": "Total Revenue (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$60.9B vs. cons $60.26B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Adjusted EPS (Q2 2026)",
      "prediction": "IN-LINE",
      "answer": "pred ~$7.20 vs. cons $7.22",
      "confidence": "LOW"
    },
    {
      "kpi": "Q2 2026 Actual Capex",
      "prediction": "BEAT",
      "answer": "pred ~$34B vs. cons ~$31B",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 Capex Guidance",
      "prediction": "BETTER",
      "answer": "guide ~$140-160B vs. cons ~$135B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 Total Expenses Guidance",
      "prediction": "BETTER",
      "answer": "guide ~$168-178B vs. cons ~$166B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q3 2026 Revenue Guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~$63-66B vs. cons ~$64.5B (Q3 2026)",
      "confidence": "LOW"
    },
    {
      "kpi": "Reality Labs FY2026 Operating Loss Commentary",
      "prediction": "UNCHANGED",
      "answer": "guide ~$19B vs. cons ~$19B (FY2026)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": -5.2,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -8.0,
  "day5_path": "FOLLOW-THROUGH",
  "day5_rationale": "Even with a top/bottom-line beat, an expected further FY26 capex raise (to fund the Q1 underspend catch-up plus AI buildout) forces sell-side models to push out 2027 depreciation/opex ramps, compressing forward margin and EPS estimates similarly to the Alphabet post-earnings drift; credit-market stress (widening AI bond spreads, Moody's warnings) and no offsetting cloud-revenue narrative for Meta mean initial capex-driven selling is likely to continue into the following days rather than reverse, consistent with the pattern seen after the Q1 print.",
  "day5_confidence": "MEDIUM"
}