Southwest Airlines (NYSE: LUV) reported earnings on July 19. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended June 30 (Q2), Southwest Airlines met expectations on revenues and beat expectations on earnings per share.

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

Margins increased across the board.

Revenue details
 Southwest Airlines logged revenue of $4.62 billion. The 11 analysts polled by S&P Capital IQ foresaw net sales of $4.58 billion on the same basis. GAAP reported sales were 12% higher than the prior-year quarter's $4.14 billion.

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 $0.36. The 16 earnings estimates compiled by S&P Capital IQ averaged $0.32 per share. GAAP EPS of $0.30 for Q2 were 43% higher than the prior-year quarter's $0.21 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 25.5%, 340 basis points better than the prior-year quarter. Operating margin was 10.2%, 380 basis points better than the prior-year quarter. Net margin was 4.9%, 100 basis points better than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $4.49 billion. On the bottom line, the average EPS estimate is $0.29.

Next year's average estimate for revenue is $17.32 billion. The average EPS estimate is $0.78.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 1,518 members out of 1,771 rating the stock outperform, and 255 members rating it underperform. Among 345 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 292 give Southwest Airlines a green thumbs-up, and 53 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Southwest Airlines is outperform, with an average price target of $11.86.