Global entertainment and media company Disney (NYSE:DIS) will be reporting earnings tomorrow before market open. Here's what you need to know.

Disney met analysts' revenue expectations last quarter, reporting revenues of $23.55 billion, flat year on year. It was a decent quarter for the company, with a solid beat of analysts' earnings estimates.

Is Disney a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting Disney's revenue to grow 1.5% year on year to $22.15 billion, slowing from the 7.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.11 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Disney has missed Wall Street's revenue estimates four times over the last two years.

Looking at Disney'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 24%, beating analysts' expectations by 5.5%, and Royal Caribbean reported revenues up 29.2%, topping estimates by 1.1%. Royal Caribbean traded up 2.8% following the results.

Read our full analysis of fuboTV's results here and Royal Caribbean's results here.

Inflation progressed towards the Fed's 2% goal at the end of 2023, leading to strong stock market performance. The start of 2024 has been a bumpier ride as the market switches between optimism and pessimism around rate cuts thanks to mixed inflation data, and while some of the consumer discretionary stocks have fared somewhat better, they have not been spared, with share prices down 3.4% on average over the last month. Disney is down 2.9% during the same time and is heading into earnings with an average analyst price target of $125.5 (compared to the current share price of $113.95).

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