Telecommunications conglomerate AT&T (NYSE: T) will be announcing earnings results tomorrow morning. Here’s what investors should know.

AT&T beat analysts’ revenue expectations by 0.7% last quarter, reporting revenues of $32.3 billion, flat year on year. It was a mixed quarter for the company, with a decent beat of analysts’ EPS estimates but a miss of analysts’ adjusted operating income estimates.

Is AT&T a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting AT&T’s revenue to grow 1% year on year to $30.34 billion, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $0.52 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. AT&T has missed Wall Street’s revenue estimates five times over the last two years.

Looking at AT&T’s peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Verizon delivered year-on-year revenue growth of 1.5%, meeting analysts’ expectations, and Nike reported a revenue decline of 9.3%, topping estimates by 2.3%. Nike traded down 5.4% following the results.

Read our full analysis of Verizon’s results here and Nike’s results here.

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