Corning (NYSE: GLW) reported earnings on April 25. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), Corning beat expectations on revenues and beat expectations on earnings per share.

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

Margins contracted across the board.

Revenue details
Corning tallied revenue of $1.92 billion. The 15 analysts polled by S&P Capital IQ wanted to see revenue of $1.86 billion on the same basis. GAAP reported sales were 0.2% lower than the prior-year quarter's $1.92 billion.

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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 $0.30. The 18 earnings estimates compiled by S&P Capital IQ averaged $0.28 per share. GAAP EPS of $0.30 for Q1 were 36% lower than the prior-year quarter's $0.47 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 42.4%, 300 basis points worse than the prior-year quarter. Operating margin was 17.9%, 630 basis points worse than the prior-year quarter. Net margin was 24.1%, 1,480 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $1.99 billion. On the bottom line, the average EPS estimate is $0.32.

Next year's average estimate for revenue is $7.98 billion. The average EPS estimate is $1.34.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 5,140 members out of 5,259 rating the stock outperform, and 119 members rating it underperform. Among 1,001 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 981 give Corning a green thumbs-up, and 20 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Corning is outperform, with an average price target of $15.62.

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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. The Motley Fool owns shares of Corning. Motley Fool newsletter services have recommended buying shares of Corning. 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.