{
  "report_rows": [
    {
      "kpi": "Q2 GMV",
      "prediction": "BEAT",
      "answer": "pred ~$21.72B vs. cons $21.50B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q2 revenue",
      "prediction": "IN-LINE",
      "answer": "pred ~$3.035B vs. cons $3.018B",
      "confidence": "HIGH"
    },
    {
      "kpi": "Q2 non-GAAP EPS",
      "prediction": "BEAT",
      "answer": "pred ~$1.53 vs. cons $1.51",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "Q3 GMV",
      "prediction": "LOWER",
      "answer": "guide ~$21.35B vs. cons $21.40B (2026Q3)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q3 revenue",
      "prediction": "UNCHANGED",
      "answer": "guide ~$3.00B vs. cons $3.00B (2026Q3)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q3 non-GAAP EPS",
      "prediction": "UNCHANGED",
      "answer": "guide ~$1.38 vs. cons $1.38 (2026Q3)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Core FX-neutral GMV growth",
      "prediction": "UNCHANGED",
      "answer": "guide ~7.25% vs. cons 7.25% (FY2026)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": -2.8,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -4.2,
  "day5_path": "FOLLOW-THROUGH",
  "day5_rationale": "Maintaining FY2026 core FX-neutral GMV growth at ~7.25% vs. cons 7.25% despite Q2 GMV of ~$21.72B vs. cons $21.50B implicitly removes roughly $0.22B from second-half GMV, pressuring out-period revenue and EPS revisions after the headline beat.",
  "day5_confidence": "MEDIUM"
}