Harris (NYSE: HRS) is expected to report Q2 earnings on Jan. 29. 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 Harris's revenues will wane -9.7% and EPS will compress -1.6%.

The average estimate for revenue is $1.31 billion. On the bottom line, the average EPS estimate is $1.20.

Revenue details
 Last quarter, Harris reported revenue of $1.26 billion. GAAP reported sales were 5.6% lower than the prior-year quarter's $1.34 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 $1.14. GAAP EPS were -$0.76 for Q1 compared to $1.01 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 32.8%, 30 basis points worse than the prior-year quarter. Operating margin was 17.0%, 10 basis points worse than the prior-year quarter. Net margin was -6.8%, 1,590 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $5.42 billion. The average EPS estimate is $5.16.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 623 members out of 644 rating the stock outperform, and 21 members rating it underperform. Among 182 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 179 give Harris a green thumbs-up, and three give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Harris is hold, with an average price target of $46.50.

Internet software and services are being consumed in radically different ways, on increasingly mobile devices. Does Harris fit in anymore? Check out the company that Motley Fool analysts expect to lead the pack in "The Next Trillion-dollar Revolution." Click here for instant access to this free report.