Hewlett-Packard (NYSE: HPQ) reported earnings on May 23. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended April 30 (Q2), Hewlett-Packard beat expectations on revenue and beat expectations on earnings per share.

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

Margins dropped across the board.

Revenue details
Hewlett-Packard reported revenue of $30.69 billion. The 25 analysts polled by S&P Capital IQ expected sales of $29.91 billion on the same basis. GAAP reported sales were 3.0% lower than the prior-year quarter's $31.63 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 $0.98. The 28 earnings estimates compiled by S&P Capital IQ predicted $0.91 per share. GAAP EPS of $0.80 for Q2 were 24% lower than the prior-year quarter's $1.05 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 23.3%, 130 basis points worse than the prior-year quarter. Operating margin was 7.5%, 240 basis points worse than the prior-year quarter. Net margin was 5.2%, 210 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $30.34 billion. On the bottom line, the average EPS estimate is $1.02.

Next year's average estimate for revenue is $122.64 billion. The average EPS estimate is $4.04.

Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS. Among 770 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 712 give Hewlett-Packard a green thumbs-up, and 58 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Hewlett-Packard is hold, with an average price target of $30.29.

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