Cerner (Nasdaq: CERN) is expected to report Q2 earnings on July 26. 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 Cerner's revenues will expand 21.5% and EPS will increase 22.7%.

The average estimate for revenue is $636.7 million. On the bottom line, the average EPS estimate is $0.54.

Revenue details
Last quarter, Cerner booked revenue of $641.2 million. GAAP reported sales were 31% higher than the prior-year quarter's $481.4 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 $0.54. GAAP EPS of $0.51 for Q1 were 38% higher than the prior-year quarter's $0.37 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 76.7%, 660 basis points worse than the prior-year quarter. Operating margin was 20.2%, 70 basis points better than the prior-year quarter. Net margin was 14.1%, 70 basis points better than the prior-year quarter.

Looking ahead
The full year's average estimate for revenue is $2.62 billion. The average EPS estimate is $2.31.

Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 393 members out of 438 rating the stock outperform, and 45 members rating it underperform. Among 128 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 117 give Cerner 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 Cerner is outperform, with an average price target of $74.41.

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.