{
  "report_rows": [
    {
      "kpi": "Net revenue (FQ3'26, adj/GAAP)",
      "prediction": "BEAT",
      "answer": "pred ~$11.50B vs. cons ~$11.36B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Non-GAAP diluted EPS (FQ3'26)",
      "prediction": "BEAT",
      "answer": "pred ~$3.28 vs. cons ~$3.23",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Cross-border volume ex-intra-Europe growth (cst.$, FQ3'26)",
      "prediction": "BEAT",
      "answer": "pred ~11.5% vs. cons ~9.5%",
      "confidence": "LOW"
    }
  ],
  "guide_rows": [
    {
      "kpi": "Q4 FY2026 net revenue growth (adj., cst.$)",
      "prediction": "BETTER",
      "answer": "guide ~12% vs. cons ~11.3% (Q4 FY2026, Jul-Sep 2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 full-year non-GAAP EPS growth (adj.)",
      "prediction": "LOWER",
      "answer": "guide ~13% vs. cons ~14.3% (FY2026 full year)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "VAS+CMS combined revenue growth normalization commentary",
      "prediction": "LOWER",
      "answer": "guide ~18-20% vs. recent run-rate/Street ~25% (FY2026 2H/Q4 outlook)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": 1.8,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -2.0,
  "day5_path": "FADE",
  "day5_rationale": "Setup mirrors last quarter's blowout: stock is up ~17% into the print and near highs, so a headline revenue/EPS beat is likely already substantially priced in, and management's own commentary (mid-to-high single-digit EPS growth guide, explicit 'don't extrapolate' language on CMS/VAS one-time items, FIFA lapping into Q4) gives sell-side cover to trim out-quarter (Q4/FY27) estimates even after a Q3 beat. After the April 29 Q2 beat, V popped ~8% on day one but gave back nearly all of it within the next 5 trading days (334.86->318.80, underperforming a rising SPY) as investors digested the guided deceleration and one-time-item caveats; the same implicit-cut dynamic (full-year EPS guide of ~13% sits below Street's ~14.3%, and CMS/VAS growth is being walked back from 24-27% toward high-teens/20%) should again pull estimates and the stock back down over the following week even if the print itself beats.",
  "day5_confidence": "MEDIUM"
}