Finisar (Nasdaq: FNSR) is expected to report Q2 earnings on Dec. 5. 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 Finisar's revenues will shrink -4.0% and EPS will compress -39.1%.

The average estimate for revenue is $231.8 million. On the bottom line, the average EPS estimate is $0.14.

Revenue details
Last quarter, Finisar recorded revenue of $220.5 million. GAAP reported sales were 3.4% lower than the prior-year quarter's $228.2 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 $0.12. GAAP EPS were -$0.07 for Q1 against $0.11 per share for 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 26.8%, 300 basis points worse than the prior-year quarter. Operating margin was -2.2%, 560 basis points worse than the prior-year quarter. Net margin was -2.8%, 720 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $935.8 million. The average EPS estimate is $0.61.

Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 440 members out of 483 rating the stock outperform, and 43 members rating it underperform. Among 85 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 75 give Finisar a green thumbs-up, and 10 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Finisar is outperform, with an average price target of $17.29.

Internet software and services are being consumed in radically different ways, on increasingly mobile devices. Does Finisar fit in anymore? Check out the company that Motley Fool analysts expect to lead the pack in "The Next Trillion-dollar Revolution." Click here for instant access to this free report.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.