Leap Wireless International (Nasdaq: LEAP) is expected to report Q1 earnings on April 30. 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 Leap Wireless International's revenues will contract -11.2% and EPS will remain in the red.

The average estimate for revenue is $733.1 million. On the bottom line, the average EPS estimate is -$1.19.

Revenue details
 Last quarter, Leap Wireless International logged revenue of $756.0 million. GAAP reported sales were 1.5% lower than the prior-year quarter's $767.4 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 -$1.71. GAAP EPS were -$0.96 for Q4 versus -$1.10 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 41.4%, 130 basis points better than the prior-year quarter. Operating margin was -2.2%, 100 basis points worse than the prior-year quarter. Net margin was -9.8%, 120 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $2.77 billion. The average EPS estimate is -$4.61.

Investor sentiment
 The stock has a two-star rating (out of five) at Motley Fool CAPS, with 185 members out of 238 rating the stock outperform, and 53 members rating it underperform. Among 47 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 37 give Leap Wireless International 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 Leap Wireless International is hold, with an average price target of $5.73.

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