Verizon Communications (NYSE: VZ) is expected to report Q3 earnings on Oct. 18. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Verizon Communications's revenues will increase 3.9% and EPS will grow 16.1%.

The average estimate for revenue is $29.00 billion. On the bottom line, the average EPS estimate is $0.65.

Revenue details
 Last quarter, Verizon Communications tallied revenue of $28.55 billion. GAAP reported sales were 3.7% higher than the prior-year quarter's $27.54 billion.

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, EPS came in at $0.64. GAAP EPS of $0.64 for Q2 were 12% higher than the prior-year quarter's $0.57 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 61.8%, 230 basis points better than the prior-year quarter. Operating margin was 19.8%, 200 basis points better than the prior-year quarter. Net margin was 6.4%, 60 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $115.39 billion. The average EPS estimate is $2.48.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 4,603 members out of 4,891 rating the stock outperform, and 288 members rating it underperform. Among 1,102 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 1,048 give Verizon Communications a green thumbs-up, and 54 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Verizon Communications is outperform, with an average price target of $41.34.

Can your portfolio provide you with enough income to last through retirement? You'll need more than Verizon Communications. Learn how to maximize your investment income and get "The 3 DOW Stocks Dividend Investors Need." Click here for instant access to this free report.