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.

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