{
  "report_rows": [
    {
      "kpi": "Revenue",
      "prediction": "IN-LINE",
      "answer": "pred ~$88.15B vs. cons $87.67B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Adjusted EPS",
      "prediction": "BEAT",
      "answer": "pred ~$4.31 vs. cons $4.24",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Azure constant-currency growth",
      "prediction": "BEAT",
      "answer": "pred ~41.0% vs. cons 40.0%",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "Total revenue",
      "prediction": "UNCHANGED",
      "answer": "guide ~$91.8B vs. cons $91.45B (FY2027 Q1)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Azure constant-currency growth",
      "prediction": "BETTER",
      "answer": "guide ~41.5% vs. cons 41.0% (FY2027 Q1)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Capital expenditures",
      "prediction": "UNCHANGED",
      "answer": "guide ~$220B vs. cons $220B (FY2027)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": 3.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 1.8,
  "day5_path": "FADE",
  "day5_rationale": "The initial Azure beat and relief from no material capex increase support day one, but roughly $220B of FY2027 capex keeps depreciation and free-cash-flow estimates constrained. Modest EPS revisions provide limited out-period upside, causing part of the initial gain to fade.",
  "day5_confidence": "LOW"
}