{
  "report_rows": [
    {
      "kpi": "Total Revenue (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$3,640M vs. cons $3,579M",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Nights & Experiences Booked (Q2 2026)",
      "prediction": "IN-LINE",
      "answer": "pred ~147M vs. cons 145.7M",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Adj. EBITDA (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$1,270M vs. cons $1,229M",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "Q3 2026 Revenue (Q3 2026)",
      "prediction": "LOWER",
      "answer": "guide ~$4,000M midpoint vs. cons $4,079M",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY 2026 Revenue (FY 2026)",
      "prediction": "UNCHANGED",
      "answer": "guide ~$14,000M midpoint vs. cons $13,964M",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY 2026 Adj. EBITDA Margin (FY 2026)",
      "prediction": "UNCHANGED",
      "answer": "guide >=35% reaffirmed vs. cons ~35.4%",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": -1.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -4.5,
  "day5_path": "FADE",
  "day5_rationale": "FADE \u2014 Q3 guide below cons pulls Q3 estimates lower; 5-day drift negative as sell-side revises down",
  "day5_confidence": "MEDIUM"
}