Mercadolibre (Nasdaq: MELI) is expected to report Q2 earnings on Aug. 2. 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 Mercadolibre's revenues will improve 26.4% and EPS will expand 41.2%.

The average estimate for revenue is $87.7 million. On the bottom line, the average EPS estimate is $0.48.

Revenue details
 Last quarter, Mercadolibre notched revenue of $83.7 million. GAAP reported sales were 36% higher than the prior-year quarter's $61.5 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, EPS came in at $0.45. GAAP EPS of $0.45 for Q1 were 41% higher than the prior-year quarter's $0.32 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 74.8%, 190 basis points worse than the prior-year quarter. Operating margin was 29.8%, 160 basis points worse than the prior-year quarter. Net margin was 23.4%, 50 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $384.0 million. The average EPS estimate is $2.16.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,044 members out of 1,117 rating the stock outperform, and 73 members rating it underperform. Among 269 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 253 give Mercadolibre a green thumbs-up, and 16 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Mercadolibre is outperform, with an average price target of $103.25.

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