McDonald's (NYSE: MCD) is expected to report Q2 earnings on July 22. 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 McDonald's revenues will expand 2.6% and EPS will expand 6.1%.

The average estimate for revenue is $7.09 billion. On the bottom line, the average EPS estimate is $1.40.

Revenue details
Last quarter, McDonald's chalked up revenue of $6.61 billion. GAAP reported sales were 0.9% higher than the prior-year quarter's $6.55 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, EPS came in at $1.26. GAAP EPS of $1.26 for Q1 were 2.4% higher than the prior-year quarter's $1.23 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 37.6%, 90 basis points worse than the prior-year quarter. Operating margin was 28.6%, 80 basis points worse than the prior-year quarter. Net margin was 19.2%, 10 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $28.48 billion. The average EPS estimate is $5.69.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 5,915 members out of 6,222 rating the stock outperform, and 307 members rating it underperform. Among 1,519 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 1,473 give McDonald's a green thumbs-up, and 46 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on McDonald's is outperform, with an average price target of $101.50.

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