United States Cellular (NYSE: USM) is expected to report Q2 earnings around Aug. 5. 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 United States Cellular's revenues will wither -7.5% and EPS will shrink -82.3%.

The average estimate for revenue is $1.02 billion. On the bottom line, the average EPS estimate is $0.11.

Revenue details
 Last quarter, United States Cellular tallied revenue of $1.08 billion. GAAP reported sales were 0.9% lower than the prior-year quarter's $1.09 billion.

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, EPS came in at $0.06. GAAP EPS of $0.06 for Q1 were 92% lower than the prior-year quarter's $0.73 per share.

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 57.7%, 380 basis points worse than the prior-year quarter. Operating margin was 4.8%, 460 basis points worse than the prior-year quarter. Net margin was 0.5%, 520 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $4.03 billion. The average EPS estimate is -$0.26.

Investor sentiment
 The stock has a two-star rating (out of five) at Motley Fool CAPS, with 41 members out of 65 rating the stock outperform, and 24 members rating it underperform. Among 17 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 12 give United States Cellular a green thumbs-up, and five give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on United States Cellular is outperform, with an average price target of $38.14.

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