Illumina (Nasdaq: ILMN) reported earnings on April 23. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended April 1 (Q1), Illumina beat expectations on revenues and earnings per share.

Compared to the prior-year quarter, revenue dropped and GAAP earnings per share grew significantly.

Gross margins shrank, operating margins contracted, and net margins increased.

Revenue details
Illumina tallied revenue of $272.8 million. The 19 analysts polled by S&P Capital IQ wanted to see revenue of $263.4 million on the same basis. GAAP reported sales were 3.4% lower than the prior-year quarter's $282.5 million.

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

EPS details
Non-GAAP EPS came in at $0.36. The 18 earnings estimates compiled by S&P Capital IQ anticipated $0.32 per share on the same basis. GAAP EPS of $0.20 for Q1 were 25% higher than the prior-year quarter's $0.16 per share.

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

Margin details
For the quarter, gross margin was 67.5%, 10 basis points worse than the prior-year quarter. Operating margin was 20.6%, 570 basis points worse than the prior-year quarter. Net margin was 9.6%, 110 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $276.0 million. On the bottom line, the average EPS estimate is $0.36.

Next year's average estimate for revenue is $1.14 billion. The average EPS estimate is $1.47.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 670 members out of 720 rating the stock outperform, and 50 members rating it underperform. Among 205 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 198 give Illumina a green thumbs-up, and seven give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Illumina is outperform, with an average price target of $55.80.