Time Warner (NYSE: TWX) is expected to report Q2 earnings on Tuesday. 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 Time Warner's revenues will contract -0.8% and EPS will wither 1.7%.

The average estimate for revenue is $6.97 billion. On the bottom line, the average EPS estimate is $0.59.

Revenue details
Last quarter, Time Warner chalked up revenue of $6.98 billion. GAAP reported sales were 4.4% higher than the prior-year quarter's $6.68 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 $0.67. GAAP EPS of $0.59 were the same as 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 43%, 120 basis points worse than the prior-year quarter. Operating margin was 19.6%, 20 basis points better than the prior-year quarter. Net margin was 8.4%, 140 basis points worse than the prior-year quarter.

Looking ahead
The full year's average estimate for revenue is $29.40 billion. The average EPS estimate is $3.20.

Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 1,062 members rating the stock outperform and 186 members rating it underperform. Among 316 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 277 give Time Warner a green thumbs-up, and 39 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Time Warner is outperform, with an average price target of $42.18.

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