Abbott Laboratories (NYSE: ABT) reported earnings on July 17. Here are the numbers you need to know.

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

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

Margins dropped across the board.

Revenue details
 Abbott Laboratories reported revenue of $5.45 billion. The 19 analysts polled by S&P Capital IQ predicted a top line of $5.52 billion on the same basis. GAAP reported sales were 44% lower than the prior-year quarter's $9.81 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 $0.46. The 22 earnings estimates compiled by S&P Capital IQ averaged $0.44 per share. Non-GAAP EPS of $0.46 for Q2 were 63% lower than the prior-year quarter's $1.23 per share. GAAP EPS of $0.30 for Q2 were 72% lower than the prior-year quarter's $1.08 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 53.3%, 960 basis points worse than the prior-year quarter. Operating margin was 11.5%, much worse than the prior-year quarter. Net margin was 8.7%, 890 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $5.54 billion. On the bottom line, the average EPS estimate is $0.53.

Next year's average estimate for revenue is $22.47 billion. The average EPS estimate is $2.01.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 2,521 members out of 2,613 rating the stock outperform, and 92 members rating it underperform. Among 656 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 641 give Abbott Laboratories a green thumbs-up, and 15 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Abbott Laboratories is outperform, with an average price target of $38.52.

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