Garmin (Nasdaq: GRMN) reported earnings on May 2. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended March 31 (Q1), Garmin beat expectations on revenues and beat expectations on earnings per share.

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

Gross margins expanded, operating margins grew, net margins dropped.

Revenue details
 Garmin reported revenue of $556.6 million. The 11 analysts polled by S&P Capital IQ looked for revenue of $514.2 million on the same basis. GAAP reported sales were 9.6% higher than the prior-year quarter's $507.8 million.

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

EPS details
 EPS came in at $0.45. The 13 earnings estimates compiled by S&P Capital IQ predicted $0.41 per share. GAAP EPS of $0.44 for Q1 were 10% lower than the prior-year quarter's $0.49 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 51.0%, 410 basis points better than the prior-year quarter. Operating margin was 16.2%, 150 basis points better than the prior-year quarter. Net margin was 15.6%, 320 basis points worse than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $687.8 million. On the bottom line, the average EPS estimate is $0.67.

Next year's average estimate for revenue is $2.76 billion. The average EPS estimate is $2.64.

Investor sentiment
 The stock has a two-star rating (out of five) at Motley Fool CAPS, with 4,389 members out of 4,821 rating the stock outperform, and 432 members rating it underperform. Among 1,259 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 1,169 give Garmin a green thumbs-up, and 90 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Garmin is hold, with an average price target of $49.50.

Can your portfolio provide you with enough income to last through retirement? You'll need more than Garmin. Learn how to maximize your investment income and "Secure Your Future With 9 Rock-Solid Dividend Stocks." Click here for instant access to this free report.