K12 (NYSE: LRN) reported earnings on May 3. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended March 31 (Q3), K12 beat expectations on revenues and beat expectations on earnings per share.

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

Margins increased across the board.

Revenue details
 K12 logged revenue of $218.0 million. The seven analysts polled by S&P Capital IQ hoped for revenue of $212.9 million on the same basis. GAAP reported sales were 22% higher than the prior-year quarter's $178.2 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 $0.31. The seven earnings estimates compiled by S&P Capital IQ predicted $0.23 per share. GAAP EPS of $0.31 for Q3 were 72% higher than the prior-year quarter's $0.18 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 41.4%, 90 basis points better than the prior-year quarter. Operating margin was 8.9%, 240 basis points better than the prior-year quarter. Net margin was 5.5%, 160 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $203.8 million. On the bottom line, the average EPS estimate is $0.11.

Next year's average estimate for revenue is $844.9 million. The average EPS estimate is $0.69.

Investor sentiment
 The stock has a two-star rating (out of five) at Motley Fool CAPS, with 163 members out of 188 rating the stock outperform, and 25 members rating it underperform. Among 44 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 35 give K12 a green thumbs-up, and nine give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on K12 is outperform, with an average price target of $25.86.

Looking for alternatives to K12? It takes more than great companies to build a fortune for the future. Learn the basic financial habits of millionaires next door and get focused stock ideas in our free report, "3 Stocks That Will Help You Retire Rich." Click here for instant access to this free report.