Carrizo Oil & Gas (Nasdaq: CRZO) reported earnings on Aug. 7. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended June 30 (Q2), Carrizo Oil & Gas beat expectations on revenues and missed estimates on earnings per share.

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

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

Revenue details
Carrizo Oil & Gas booked revenue of $92.0 million. The two analysts polled by S&P Capital IQ wanted to see sales of $86.8 million on the same basis. GAAP reported sales were 82% higher than the prior-year quarter's $50.7 million.

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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 $0.26. The 12 earnings estimates compiled by S&P Capital IQ predicted $0.38 per share. GAAP EPS of $0.71 for Q2 were 255% higher than the prior-year quarter's $0.20 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 89.0%, 660 basis points better than the prior-year quarter. Operating margin was 24.9%, 1,080 basis points worse than the prior-year quarter. Net margin was 31.0%, 1,570 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $102.3 million. On the bottom line, the average EPS estimate is $0.56.

Next year's average estimate for revenue is $398.9 million. The average EPS estimate is $2.25.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 269 members out of 299 rating the stock outperform, and 30 members rating it underperform. Among 64 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 54 give Carrizo Oil & Gas a green thumbs-up, and 10 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Carrizo Oil & Gas is outperform, with an average price target of $36.19.