Avnet (NYSE: AVT) reported earnings on Jan. 26. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q2), Avnet met expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue shrank slightly and earnings per share improved.

Gross margins grew, operating margins dropped, and net margins grew.

Revenue details
Avnet tallied revenue of $6.69 billion. The 10 analysts polled by S&P Capital IQ expected to see revenue of $6.74 billion. Sales were 1.1% lower than the prior-year quarter's $6.77 billion.

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Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.

EPS details
Non-GAAP EPS came in at $1.15. The 13 earnings estimates compiled by S&P Capital IQ predicted $1.04 per share on the same basis. GAAP EPS of $0.98 for Q2 were 7.7% higher than the prior-year quarter's $0.91 per share.

Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 11.7%, 30 basis points better than the prior-year quarter. Operating margin was 3.4%, 40 basis points worse than the prior-year quarter. Net margin was 2.2%, 10 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $6.32 billion. On the bottom line, the average EPS estimate is $0.96.

Next year's average estimate for revenue is $26.22 billion. The average EPS estimate is $3.94.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 241 members out of 257 rating the stock outperform, and 16 members rating it underperform. Among 56 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 55 give Avnet a green thumbs-up, and one gives it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Avnet is outperform, with an average price target of $35.77.

Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.