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Content production and distribution company Sphere Entertainment (NYSE:SPHR) will be reporting earnings this Tuesday before the bell. Here\u2019s what you need to know. <\/p>\n
Sphere Entertainment beat analysts\u2019 revenue expectations last quarter, reporting revenues of $394.3 million, up 27.9% year on year. It was a strong quarter for the company, with a beat of analysts\u2019 EPS and adjusted operating income estimates. <\/p>\n
Is Sphere Entertainment a buy or sell going into earnings? Read our full analysis here, it\u2019s free for active Edge members<\/a>.<\/p>\n This quarter, the market is expecting Sphere Entertainment\u2019s revenue to grow 31.2% year on year, a reversal from the 12.7% decrease it recorded in the same quarter last year. <\/p>\n Heading into earnings, analysts covering the company have grown increasingly bullish with revenue estimates seeing in majority upward revisions over the last 30 days. Sphere Entertainment has missed Wall Street\u2019s revenue estimates multiple times over the last two years. <\/p>\n Looking at Sphere Entertainment\u2019s peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Rush Street Interactive delivered year-on-year revenue growth of 41.1%, beating analysts\u2019 expectations by 11.3%, and Monarch reported revenues up 8.9%, topping estimates by 5.2%. Rush Street Interactive traded up 16.6% following the results while Monarch was also up 15.9%. <\/p>\n Read our full analysis of Rush Street Interactive\u2019s results here<\/a> and Monarch\u2019s results here<\/a>.<\/p>\n There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 7% on average over the last month. Sphere Entertainment is up 19.5% during the same time and is heading into earnings with an average analyst price target of $138.45 (compared to the current share price of $151.00).<\/p>\n WHILE YOU\u2019RE HERE: The Next Palantir?<\/strong> One satellite company captures images of every point on Earth. Every single day. The Pentagon wants it. Hedge funds are using it to beat earnings. You\u2019ve probably never heard of it.<\/p>\n