Western Digital (Nasdaq: WDC) is expected to report Q2 earnings on Jan. 23. 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 Western Digital's revenues will increase 83.2% and EPS will increase 19.9%.

The average estimate for revenue is $3.65 billion. On the bottom line, the average EPS estimate is $1.81.

Revenue details
 Last quarter, Western Digital chalked up revenue of $4.04 billion. GAAP reported sales were 50% higher than the prior-year quarter's $2.69 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, non-GAAP EPS came in at $2.36. GAAP EPS of $2.06 for Q1 were 104% higher than the prior-year quarter's $1.01 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 29.6%, 950 basis points better than the prior-year quarter. Operating margin was 15.3%, 570 basis points better than the prior-year quarter. Net margin was 12.9%, 400 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $14.78 billion. The average EPS estimate is $7.68.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,311 members out of 1,385 rating the stock outperform, and 74 members rating it underperform. Among 329 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 318 give Western Digital a green thumbs-up, and 11 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Western Digital is hold, with an average price target of $47.52.

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