{
  "report_rows": [
    {
      "kpi": "Adjusted EPS",
      "prediction": "BEAT",
      "answer": "pred ~$1.90 vs. cons $1.86",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Total segment operating income",
      "prediction": "BEAT",
      "answer": "pred ~$5.36B vs. cons $5.30B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Experiences segment operating income",
      "prediction": "MISS",
      "answer": "pred ~$2.63B vs. cons $2.66B",
      "confidence": "LOW"
    }
  ],
  "guide_rows": [
    {
      "kpi": "Adjusted EPS",
      "prediction": "UNCHANGED",
      "answer": "guide ~$6.80 vs. cons $6.79 (fiscal 2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Adjusted EPS growth excluding 53rd-week comparison",
      "prediction": "LOWER",
      "answer": "guide ~10.0% vs. cons 10.8% (fiscal 2027)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Entertainment SVOD operating margin",
      "prediction": "LOWER",
      "answer": "guide ~10.0% vs. cons 10.5% (fiscal 2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Share repurchases",
      "prediction": "LOWER",
      "answer": "guide ~$8.0B vs. cons $8.5B (fiscal 2026)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": 2.1,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 0.7,
  "day5_path": "FADE",
  "day5_rationale": "A modest Q3 beat\u2014predicted adjusted EPS of $1.90 versus $1.86 consensus\u2014without an increase to the roughly $6.80 fiscal-2026 outlook shifts about $0.04 out of implied Q4 earnings. Fiscal-2027 growth guidance of roughly 10.0% versus 10.8% consensus should limit estimate revisions and cause the initial relief rally to fade.",
  "day5_confidence": "MEDIUM"
}