Schlumberger (NYSE: SLB) is expected to report Q2 earnings around July 20. 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 Schlumberger's revenues will improve 8.5% and EPS will improve 14.9%.

The average estimate for revenue is $10.44 billion. On the bottom line, the average EPS estimate is $1.00.

Revenue details
Last quarter, Schlumberger recorded revenue of $10.61 billion. GAAP reported sales were 22% higher than the prior-year quarter's $8.72 billion.

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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 $0.98. GAAP EPS of $0.97 for Q1 were 41% higher than the prior-year quarter's $0.69 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 20.1%, 100 basis points better than the prior-year quarter. Operating margin was 16.7%, 160 basis points better than the prior-year quarter. Net margin was 12.3%, 150 basis points better than the prior-year quarter.

Looking ahead
The full year's average estimate for revenue is $43.41 billion. The average EPS estimate is $4.23.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 2,992 members out of 3,069 rating the stock outperform, and 77 members rating it underperform. Among 593 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 579 give Schlumberger a green thumbs-up, and 14 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Schlumberger is outperform, with an average price target of $89.97.

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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.