Kraft Foods (Nasdaq: KFT) 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 Kraft Foods' revenues will increase 1.1% and EPS will expand 6.5%.

The average estimate for revenue is $14.03 billion. On the bottom line, the average EPS estimate is $0.66.

Revenue details
Last quarter, Kraft Foods logged revenue of $13.09 billion. GAAP reported sales were 4.1% higher than the prior-year quarter's $12.57 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 $0.57. GAAP EPS of $0.46 for Q1 were 2.2% higher than the prior-year quarter's $0.45 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 35.6%, 130 basis points worse than the prior-year quarter. Operating margin was 14.3%, 40 basis points better than the prior-year quarter. Net margin was 6.2%, 20 basis points worse than the prior-year quarter.

Looking ahead
The full year's average estimate for revenue is $55.70 billion. The average EPS estimate is $2.50.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 2,416 members out of 2,568 rating the stock outperform, and 152 members rating it underperform. Among 799 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 768 give Kraft Foods a green thumbs-up, and 31 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Kraft Foods is outperform, with an average price target of $41.89.

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