Ixia (Nasdaq: XXIA) is expected to report Q2 earnings around July 19. 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 Ixia's revenues will increase 28.8% and EPS will expand 100.0%.

The average estimate for revenue is $88.9 million. On the bottom line, the average EPS estimate is $0.16.

Revenue details
Last quarter, Ixia reported revenue of $85.6 million. GAAP reported sales were 9.2% higher than the prior-year quarter's $78.5 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 $0.15. GAAP EPS of $0.06 for Q1 were 40% lower than the prior-year quarter's $0.10 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 80.3%, 10 basis points better than the prior-year quarter. Operating margin was 11.0%, 100 basis points worse than the prior-year quarter. Net margin was 5.1%, 400 basis points worse than the prior-year quarter.

Looking ahead
The full year's average estimate for revenue is $385.8 million. The average EPS estimate is $0.70.

Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 55 members out of 65 rating the stock outperform, and 10 members rating it underperform. Among 21 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 19 give Ixia a green thumbs-up, and two give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Ixia is outperform, with an average price target of $14.58.

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.