{
  "report_rows": [
    {
      "kpi": "Adjusted EPS",
      "prediction": "BEAT",
      "answer": "pred ~$3.90 vs. cons ~$3.77",
      "confidence": "HIGH"
    },
    {
      "kpi": "TotalEnterprise Contract Value FX-neutral %",
      "prediction": "BEAT",
      "answer": "pred ~+2.5% vs. cons/prior-qtr ~+1%",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Total revenue",
      "prediction": "IN-LINE",
      "answer": "pred ~$1.71B vs. cons ~$1.70B",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY26 Adjusted EPS guide (raise)",
      "prediction": "BETTER",
      "answer": "guide ~$13.65 vs. cons ~$13.61 (FY26)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY26 Adjusted EBITDA guide (raise)",
      "prediction": "BETTER",
      "answer": "guide ~$1.56B vs. cons ~$1.545B (FY26)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY26 revenue guide (raise)",
      "prediction": "BETTER",
      "answer": "guide ~$6.44B vs. cons ~$6.42B (FY26)",
      "confidence": "LOW"
    },
    {
      "kpi": "Ex-Fed CV growth trajectory (key commentary)",
      "prediction": "UNKNOWN",
      "answer": "pred ~+3.5-4% vs. Q1 ~+3.5% (2H26 exit)",
      "confidence": "LOW"
    },
    {
      "kpi": "GTS/GBS wallet (net dollar) retention",
      "prediction": "UNCHANGED",
      "answer": "pred GTS ~97%/GBS ~98% vs. Q1 97%/98%",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": 3.5,
  "day1_confidence": "LOW",
  "day5_residual_pct": 1.0,
  "day5_path": "FADE",
  "day5_rationale": "Highly bimodal print into a ~30% pre-earnings bounce that already faded ~8% off the Jul-29 peak. Base case: near-certain EPS beat + a buyback-driven FY26 guide raise + mechanically easing U.S. federal drag lifts total CV growth off +1%, driving a modest relief pop. But the raise is cost/repurchase-led rather than organic (revenue growth still ~1%), and the acceleration in the ex-Fed core plus retention is likely only steady, not the crisp step-up bulls need. As the out-period math shows the top-line/CV trajectory is still low-single-digit and the AI-disintermediation overhang unresolved, initial gains fade over the week; two prior prints (~-28%, ~-20%) keep buyers cautious and cap follow-through.",
  "day5_confidence": "LOW"
}