CBS (NYSE: CBS) is expected to report Q2 earnings on July 31. 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 CBS's revenues will grow 0.9% and EPS will grow 10.8%.

The average estimate for revenue is $3.51 billion. On the bottom line, the average EPS estimate is $0.72.

Revenue details
Last quarter, CBS logged revenue of $4.04 billion. GAAP reported sales were 6.4% higher than the prior-year quarter's $3.80 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 $0.73. GAAP EPS of $0.70 for Q1 were 30% higher than the prior-year quarter's $0.54 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 38.8%, 60 basis points better than the prior-year quarter. Operating margin was 19.8%, 170 basis points better than the prior-year quarter. Net margin was 11.0%, 140 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $14.94 billion. The average EPS estimate is $3.05.

Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 349 members out of 430 rating the stock outperform, and 81 members rating it underperform. Among 165 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 151 give CBS a green thumbs-up, and 14 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on CBS is outperform, with an average price target of $48.98.

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