CenturyLink (NYSE: CTL) is expected to report Q2 earnings on Aug. 8. Here's what Wall Street wants to see.

The 10-second takeaway
Comparing the upcoming quarter with the prior-year quarter, average analyst estimates predict CenturyLink's revenues will improve 3.8% and EPS will improve 38.6%.

The average estimate for revenue is $4.57 billion. On the bottom line, the average EPS estimate is $0.61.

Revenue details
Last quarter, CenturyLink notched revenue of $4.61 billion. GAAP reported sales were much higher than the prior-year quarter's $1.70 billion.

My

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, non-GAAP EPS came in at $0.68. GAAP EPS of $0.32 for Q1 were 54% lower than the prior-year quarter's $0.69 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 59.4%, 450 basis points worse than the prior-year quarter. Operating margin was 15.2%, 1,420 basis points worse than the prior-year quarter. Net margin was 4.3%, 810 basis points worse than the prior-year quarter.

Looking ahead
The full year's average estimate for revenue is $18.31 billion. The average EPS estimate is $2.49.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 524 members out of 567 rating the stock outperform, and 43 members rating it underperform. Among 168 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 153 give CenturyLink a green thumbs-up, and 15 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on CenturyLink is outperform, with an average price target of $43.39.

Can your portfolio provide you with enough income to last through retirement? You'll need more than CenturyLink. Learn how to maximize your investment income and "Secure Your Future With 9 Rock-Solid Dividend Stocks." Get instant access to this free report.