{
  "report_rows": [
    {
      "kpi": "DTC Adj. OIBDA (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$310M vs. cons $289M",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "ARPU - Paramount+ (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$8.72 vs. cons $8.63",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Total Revenue (Q2 2026)",
      "prediction": "MISS",
      "answer": "pred ~$6.82B vs. cons $6.865B",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY 2026 Revenue (FY 2026)",
      "prediction": "BETTER",
      "answer": "guide $30.0B vs. cons $29.85B",
      "confidence": "HIGH"
    },
    {
      "kpi": "FY 2026 Adj. EBITDA (FY 2026)",
      "prediction": "BETTER",
      "answer": "guide $3.8B vs. cons $3.54B",
      "confidence": "HIGH"
    },
    {
      "kpi": "Q3 2026 Revenue (Q3 2026)",
      "prediction": "UNCHANGED",
      "answer": "guide mid ~$7.0B vs. cons $7.03B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "DTC Margin Tone (H2 2026)",
      "prediction": "LOWER",
      "answer": "cautious reiteration of content cost pressure vs. no explicit quantification",
      "confidence": "HIGH"
    },
    {
      "kpi": "WBD Close Timing (Q3 2026)",
      "prediction": "BETTER",
      "answer": "confirmed on track vs. market pricing residual risk",
      "confidence": "HIGH"
    }
  ],
  "day1_residual_pct": 4.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 6.5,
  "day5_path": "FOLLOW-THROUGH",
  "day5_rationale": "FOLLOW-THROUGH - FY EBITDA guide reaffirm at $3.8B vs. $3.54B consensus drives upward estimate revisions; WBD close confirmation compresses deal risk premium; partially offset by cautious DTC H2 tone",
  "day5_confidence": "MEDIUM"
}