Action camera company GoPro (NASDAQ:GPRO) will be announcing earnings results tomorrow after market hours. Here's what to expect.

GoPro missed analysts' revenue expectations by 9.4% last quarter, reporting revenues of $295.4 million, down 8% year on year. It was a weak quarter for the company, with a miss of analysts' earnings estimates.

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

This quarter, analysts are expecting GoPro's revenue to decline 16.2% year on year to $146.5 million, improving from the 19.4% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.25 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. GoPro has missed Wall Street's revenue estimates three times over the last two years.

Looking at GoPro's peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Hasbro's revenues decreased 24.3% year on year, beating analysts' expectations by 2.2%, and Mattel reported flat revenue, falling short of estimates by 2.8%. Hasbro traded up 11.8% following the results while Mattel was also up 2.2%.

Read our full analysis of Hasbro's results here and Mattel's results here.

Inflation fears have put pressure on growth stocks, 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. GoPro is down 6.8% during the same time and is heading into earnings with an average analyst price target of $2.2 (compared to the current share price of $1.92).

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