{
  "report_rows": [
    {
      "kpi": "Adjusted EPS (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$0.92 vs. cons $0.87",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Gross Profit (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$3.10B vs. cons $3.04B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Adjusted Operating Income (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$765M vs. cons $740M",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 Gross Profit guide",
      "prediction": "BETTER",
      "answer": "guide ~$12.45B vs. cons $12.33B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 Adjusted EPS guide",
      "prediction": "BETTER",
      "answer": "guide ~$3.95 vs. cons $3.85 (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q3 2026 Adjusted Operating Income guide",
      "prediction": "BETTER",
      "answer": "guide ~$800M vs. cons $780M (Q3 2026)",
      "confidence": "LOW"
    },
    {
      "kpi": "Cash App Borrow originations growth commentary",
      "prediction": "LOWER",
      "answer": "guide ~high-teens% y/y deceleration vs. cons ~mid-20s% y/y (Q3 2026)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": 1.8,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 0.4,
  "day5_path": "FADE",
  "day5_rationale": "Block's beat-and-raise pattern (as in Q1'26, which popped +6.7% day-1 and kept climbing for weeks) argues for follow-through, but this print comes after a ~19%+ YTD run to fresh highs, so much of the 'confirmation' is already priced in per the preview's own framing. Even with an in-line-to-modest beat on gross profit/AOI/EPS, out-period math matters: Borrow is explicitly guided to decelerate off 'exceptional' comps, PBAs have a guided seasonal step-down, Bitcoin Ecosystem revenue continues to shrink with BTC near $63.5k (below Q1 levels), and any hint of a 'back-half guidance walk-down' (a risk analysts have flagged) would pull forward estimates down even if Q2 itself beats. That skews the week toward partial giveback/fade of the initial pop rather than continued follow-through, though a decisive FY26 raise could still keep the residual modestly positive.",
  "day5_confidence": "LOW"
}