General Motors (NYSE: GM) reported earnings on May 3. Here are the numbers you need to know.

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

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

Gross margins were steady, operating margins improved, and net margins contracted.

Revenue details
General Motors logged revenue of $37.80 billion. The nine analysts polled by S&P Capital IQ predicted sales of $37.51 billion on the same basis. GAAP reported sales were 4.3% higher than the prior-year quarter's $36.19 billion.

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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 $0.93. The 15 earnings estimates compiled by S&P Capital IQ predicted $0.85 per share. GAAP EPS of $0.60 for Q1 were 65% lower than the prior-year quarter's $1.73 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 12.2%, about the same as the prior-year quarter. Operating margin was 4.3%, 40 basis points better than the prior-year quarter. Net margin was 3.5%, 580 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $39.56 billion. On the bottom line, the average EPS estimate is $0.89.

Next year's average estimate for revenue is $155.26 billion. The average EPS estimate is $3.59.

Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 746 members out of 942 rating the stock outperform, and 196 members rating it underperform. Among 172 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 135 give General Motors a green thumbs-up, and 37 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on General Motors is outperform, with an average price target of $34.40.