First Solar (Nasdaq: FSLR) is expected to report Q2 earnings on Aug. 6. 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 First Solar's revenues will wither -23.8% and EPS will wane -64.8%.

The average estimate for revenue is $729.7 million. On the bottom line, the average EPS estimate is $0.58.

Revenue details
 Last quarter, First Solar booked revenue of $755.2 million. GAAP reported sales were 52% higher than the prior-year quarter's $497.1 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.

EPS details
 Last quarter, non-GAAP EPS came in at $0.69. GAAP EPS were $0.66 for Q1 against -$5.20 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.

Recent performance
 For the preceding quarter, gross margin was 22.4%, 700 basis points better than the prior-year quarter. Operating margin was 8.4%, much better than the prior-year quarter. Net margin was 7.8%, much better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $3.83 billion. The average EPS estimate is $4.17.

Investor sentiment
 The stock has a two-star rating (out of five) at Motley Fool CAPS, with 3,161 members out of 3,905 rating the stock outperform, and 744 members rating it underperform. Among 600 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 424 give First Solar a green thumbs-up, and 176 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on First Solar is hold, with an average price target of $26.56.

Is First Solar the best semiconductor stock for you? You may be missing something obvious. Check out the semiconductor company that Motley Fool analysts expect to lead "The Next Trillion-dollar Revolution." Click here for instant access to this free report.