Multinational media and entertainment corporation Paramount (NASDAQ: PSKY) is expected to be announcing earnings results this Tuesday before market hours. Here’s what you need to know.

Paramount beat analysts’ revenue expectations last quarter, reporting revenues of $7.35 billion, up 2.2% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

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

This quarter, the market is expecting Paramount’s revenue to be flat year on year, improving from the 2.7% decrease it recorded in the same quarter last year.

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. Paramount has missed Wall Street’s revenue estimates multiple times over the last two years.

With Paramount being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for consumer discretionary stocks. However, the whole sector has been hit hard over the last month as stocks in Paramount’s peer group are down 2.1% on average. Paramount is down 1.4% during the same time .

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