{
  "report_rows": [
    {
      "kpi": "Revenue (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$61.0B vs. cons $60.23B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Avg Price Per Ad YoY Growth (Q2 2026)",
      "prediction": "MISS",
      "answer": "pred ~+11% vs. cons +12.7%",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Capex incl. finance leases (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$34.5B vs. cons $33.3B",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "Revenue (Q3 2026)",
      "prediction": "UNCHANGED",
      "answer": "guide ~$65B midpoint vs. cons ~$65-66B implied",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Capex incl. finance leases (FY2026)",
      "prediction": "UNCHANGED",
      "answer": "guide ~$130-150B ($140B mid) vs. cons $139.4B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Total Expenses (FY2026)",
      "prediction": "UNCHANGED",
      "answer": "guide ~$162-169B (reaffirm) vs. cons ~$165B implied",
      "confidence": "HIGH"
    }
  ],
  "day1_residual_pct": -6.0,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -8.0,
  "day5_path": "STABILIZE",
  "day5_rationale": "STABILIZE \u2014 short covering provides brief floor post-selloff, then FCF estimate cuts resume downward drift",
  "day5_confidence": "MEDIUM"
}