Johnson & Johnson (NYSE: JNJ) is expected to report Q2 earnings around July 15. 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 Johnson & Johnson's revenues will expand 7.6% and EPS will increase 6.9%.

The average estimate for revenue is $17.72 billion. On the bottom line, the average EPS estimate is $1.39.

Revenue details
Last quarter, Johnson & Johnson logged revenue of $17.51 billion. GAAP reported sales were 8.5% higher than the prior-year quarter's $16.14 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 $1.44. GAAP EPS of $1.22 for Q1 were 13% lower than the prior-year quarter's $1.41 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 68.3%, 120 basis points worse than the prior-year quarter. Operating margin was 28.2%, 10 basis points worse than the prior-year quarter. Net margin was 20.0%, 420 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $70.87 billion. The average EPS estimate is $5.42.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 13,483 members out of 13,988 rating the stock outperform, and 505 members rating it underperform. Among 3,290 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 3,221 give Johnson & Johnson a green thumbs-up, and 69 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Johnson & Johnson is outperform, with an average price target of $79.17.

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