RBC analyst Mark Mahaney has put together a cheat-sheet (via re/code) to help make sense of Google’s earnings call, due later today.

The tl;dr version is that gross revenues above $15.65B will be viewed by the market as positive, below $15.55B seen as negative and anything between the two business as usual. The market consensus is for a neutral announcement at around $15.61B and earnings per share of $6.25 – ad growth offset by lower revenues due to more mobile ads, which typically cost less … 

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In Q1, Google announced quarterly earnings of $15.42B, broadly in line with market expectations.

You can tune in to the earnings call on the Google Investor Relations YouTube channel at 1.30pm PT, 4.30pm ET.

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