{
  "report_rows": [
    {
      "kpi": "Adjusted EBITDA",
      "prediction": "BEAT",
      "answer": "pred ~$1.04B vs. cons $1.00B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Adjusted EPS",
      "prediction": "BEAT",
      "answer": "pred ~$1.29 vs. cons $1.20",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Total revenue",
      "prediction": "BEAT",
      "answer": "pred ~$3.61B vs. cons $3.54B",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "Fiscal 2027 Television distribution-revenue growth",
      "prediction": "UNCHANGED",
      "answer": "guide ~2.0% vs. cons 2.0% (fiscal 2027)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FIFA World Cup adjusted-EBITDA contribution",
      "prediction": "LOWER",
      "answer": "guide ~$230M vs. cons $260M (fiscal 2027 Q1)",
      "confidence": "LOW"
    },
    {
      "kpi": "Roku transaction net leverage at close",
      "prediction": "UNCHANGED",
      "answer": "guide ~2.9x vs. cons 2.9x (first half calendar 2027 close)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": 1.8,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 0.4,
  "day5_path": "FADE",
  "day5_rationale": "A Q4 EBITDA/EPS beat and record fiscal-year EBITDA should support an initial ~1.8% residual move, but a modestly softer implied fiscal-2027 Q1 World Cup EBITDA outlook (~$230M vs. ~$260M) and unchanged ~2.9x close leverage leave out-period estimates vulnerable to small cuts; the Roku financing and integration overhang should limit follow-through.",
  "day5_confidence": "MEDIUM"
}