Gap (NYSE: GPS) reported earnings on Aug. 16. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended July 28 (Q2), Gap beat slightly on revenues and beat slightly on earnings per share.

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

Margins grew across the board.

Revenue details
 Gap logged revenue of $3.58 billion. The three analysts polled by S&P Capital IQ expected to see revenue of $3.52 billion on the same basis. GAAP reported sales were 5.6% higher than the prior-year quarter's $3.39 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 $0.49. The 22 earnings estimates compiled by S&P Capital IQ anticipated $0.48 per share. GAAP EPS of $0.49 for Q2 were 40% higher than the prior-year quarter's $0.35 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 39.9%, 300 basis points better than the prior-year quarter. Operating margin was 11.9%, 210 basis points better than the prior-year quarter. Net margin was 6.8%, 120 basis points better than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $3.77 billion. On the bottom line, the average EPS estimate is $0.51.

Next year's average estimate for revenue is $15.43 billion. The average EPS estimate is $2.09.

Investor sentiment
 The stock has a two-star rating (out of five) at Motley Fool CAPS, with 516 members out of 835 rating the stock outperform, and 319 members rating it underperform. Among 264 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 163 give Gap a green thumbs-up, and 101 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Gap is hold, with an average price target of $29.42.

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