Alcatel-Lucent (NYSE: ALU) is expected to report Q2 earnings on July 31. 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 Alcatel-Lucent's revenues will grow 0.5% and EPS will remain in the red.

The average estimate for revenue is $4.52 billion. On the bottom line, the average EPS estimate is -$0.11.

Revenue details
 Last quarter, Alcatel-Lucent booked revenue of $4.13 billion. GAAP reported sales were 3.3% lower than the prior-year quarter's $4.28 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 -$0.19. GAAP EPS were -$0.21 for Q1 versus -$0.24 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 29.4%, 80 basis points worse than the prior-year quarter. Operating margin was -7.0%, 280 basis points better than the prior-year quarter. Net margin was -10.9%, much worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $18.98 billion. The average EPS estimate is -$0.29.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 742 members out of 913 rating the stock outperform, and 171 members rating it underperform. Among 136 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 105 give Alcatel-Lucent a green thumbs-up, and 31 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Alcatel-Lucent is hold, with an average price target of $1.52.

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