{
  "report_rows": [
    {
      "kpi": "KEYTRUDA Global Sales",
      "prediction": "IN-LINE",
      "answer": "pred ~$8.45B vs. cons $8.370B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Total Revenue (Sales)",
      "prediction": "IN-LINE",
      "answer": "pred ~$16.45B vs. cons $16.317B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "WINREVAIR Sales",
      "prediction": "BEAT",
      "answer": "pred ~$590M vs. cons $571M",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY 2026 Revenue (FY 2026)",
      "prediction": "LOWER",
      "answer": "guide ~$66.6B midpoint vs. cons $66.867B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY 2026 Non-GAAP EPS ex-Terns (FY 2026)",
      "prediction": "BETTER",
      "answer": "guide ~$5.10-$5.22 vs. cons UNVERIFIED",
      "confidence": "LOW"
    },
    {
      "kpi": "KEYTRUDA qualitative trajectory (forward)",
      "prediction": "UNCHANGED",
      "answer": "reaffirm growth, QLEX ramp, no new competitive threat flagged",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": -2.0,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -3.5,
  "day5_path": "FADE",
  "day5_rationale": "FADE \u2014 sell-side models implicit H2 cut from FY guide below consensus; Terns EPS noise extends selling pressure",
  "day5_confidence": "MEDIUM"
}