Global music entertainment company Warner Music Group (NASDAQ:WMG) will be announcing earnings results tomorrow before market hours. Here’s what to expect.

Warner Music Group met analysts’ revenue expectations last quarter, reporting revenues of $1.67 billion, down 4.7% year on year. It was a satisfactory quarter for the company, with a solid beat of analysts’ EPS estimates.

Is Warner Music Group a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Warner Music Group’s revenue to grow 1.6% year on year to $1.52 billion, slowing from the 6.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.28 per share.Warner Music Group Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Warner Music Group has missed Wall Street’s revenue estimates three times over the last two years.

Looking at Warner Music Group’s peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. fuboTV delivered year-on-year revenue growth of 3.5%, missing analysts’ expectations by 28.7%, and Hasbro reported revenues up 17.1%, topping estimates by 14.8%. fuboTV traded down 13.3% following the results while Hasbro was up 15.9%.

Read our full analysis of fuboTV’s results here and Hasbro’s results here.

There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 12.7% on average over the last month. Warner Music Group is up 9.9% during the same time and is heading into earnings with an average analyst price target of $35.34 (compared to the current share price of $30.83).

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