Content production and distribution company Sphere Entertainment (NYSE: SPHR) will be reporting results this Tuesday morning. Here’s what investors should know.

Sphere Entertainment missed analysts’ revenue expectations by 7.4% last quarter, reporting revenues of $282.7 million, up 3.4% year on year. It was a slower quarter for the company, with a significant miss of analysts’ revenue estimates and a significant miss of analysts’ EBITDA estimates.

Is Sphere Entertainment a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting Sphere Entertainment’s revenue to grow 40.4% year on year to $320 million, slowing from the 93.1% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$1.88 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. Sphere Entertainment has missed Wall Street’s revenue estimates three times since going public.

Looking at Sphere Entertainment’s peers in the consumer discretionary segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Nike delivered year-on-year revenue growth of 1.1%, beating analysts’ expectations by 6.5%, and The Real Brokerage reported revenues up 52.6%, topping estimates by 6.5%. Nike traded up 6.5% following the results while The Real Brokerage was also up 3.9%.

Read our full analysis of Nike’s results here and The Real Brokerage’s results here.

Questions about potential tariffs and corporate tax changes have caused much volatility in 2025. While some of the consumer discretionary stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 4.7% on average over the last month. Sphere Entertainment is up 8% during the same time and is heading into earnings with an average analyst price target of $64.90 (compared to the current share price of $68.48).

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