Visa (NYSE: V) reported earnings on May 2. Here are the numbers you need to know.

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

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

Gross margins shrank, operating margins expanded, and net margins grew.

Revenue details
Visa booked revenue of $2.58 billion. The 29 analysts polled by S&P Capital IQ hoped for sales of $2.48 billion on the same basis. GAAP reported sales were 15% higher than the prior-year quarter's $2.25 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 $1.60. The 33 earnings estimates compiled by S&P Capital IQ predicted $1.50 per share. GAAP EPS of $1.59 for Q2 were 27% higher than the prior-year quarter's $1.25 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 83.3%, 110 basis points worse than the prior-year quarter. Operating margin was 62.3%, 40 basis points better than the prior-year quarter. Net margin was 50.1%, 1,090 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $2.52 billion. On the bottom line, the average EPS estimate is $1.45.

Next year's average estimate for revenue is $10.22 billion. The average EPS estimate is $6.05.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 4,752 members out of 5,012 rating the stock outperform, and 260 members rating it underperform. Among 979 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 929 give Visa a green thumbs-up, and 50 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Visa is outperform, with an average price target of $123.46.

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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. Motley Fool newsletter services have recommended buying shares of Visa. 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.