Ixia (Nasdaq: XXIA) is expected to report Q2 earnings around July 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 Ixia's revenues will grow 24.5% and EPS will compress 0.0%.

The average estimate for revenue is $115.0 million. On the bottom line, the average EPS estimate is $0.18.

Revenue details
 Last quarter, Ixia reported revenue of $122.8 million. GAAP reported sales were 42% higher than the prior-year quarter's $86.7 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 $0.25. GAAP EPS of $0.11 for Q1 were 57% higher than the prior-year quarter's $0.07 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 80.1%, 40 basis points worse than the prior-year quarter. Operating margin was 8.3%, 370 basis points worse than the prior-year quarter. Net margin was 6.6%, 60 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $487.5 million. The average EPS estimate is $0.88.

Investor sentiment
 The stock has a two-star rating (out of five) at Motley Fool CAPS, with 71 members out of 83 rating the stock outperform, and 12 members rating it underperform. Among 22 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 20 give Ixia a green thumbs-up, and two give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Ixia is outperform, with an average price target of $21.92.

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