Tellabs (Nasdaq: TLAB) is expected to report Q3 earnings on Oct. 24. 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 Tellabs's revenues will wither -11.9% and EPS will contract -200.0%.

The average estimate for revenue is $276.5 million. On the bottom line, the average EPS estimate is $0.01.

Revenue details
Last quarter, Tellabs reported revenue of $288.1 million. GAAP reported sales were 9.0% lower than the prior-year quarter's $316.7 million.

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 $0.02. GAAP EPS were -$0.01 for Q2 against -$0.08 per share for the prior-year quarter.

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 39.6%, 320 basis points better than the prior-year quarter. Operating margin was 0.9%, 1,200 basis points better than the prior-year quarter. Net margin was -1.6%, 770 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $1.11 billion. The average EPS estimate is -$0.01.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 392 members out of 440 rating the stock outperform, and 48 members rating it underperform. Among 91 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 83 give Tellabs a green thumbs-up, and eight give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Tellabs is hold, with an average price target of $4.25.

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