General Motors (NYSE: GM) reported earnings on May 3. Here are the numbers you need to know.

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

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

Gross margins were steady, operating margins improved, and net margins contracted.

Revenue details
General Motors logged revenue of $37.80 billion. The nine analysts polled by S&P Capital IQ predicted sales of $37.51 billion on the same basis. GAAP reported sales were 4.3% higher than the prior-year quarter's $36.19 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 $0.93. The 15 earnings estimates compiled by S&P Capital IQ predicted $0.85 per share. GAAP EPS of $0.60 for Q1 were 65% lower than the prior-year quarter's $1.73 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 12.2%, about the same as the prior-year quarter. Operating margin was 4.3%, 40 basis points better than the prior-year quarter. Net margin was 3.5%, 580 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $39.56 billion. On the bottom line, the average EPS estimate is $0.89.

Next year's average estimate for revenue is $155.26 billion. The average EPS estimate is $3.59.

Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 746 members out of 942 rating the stock outperform, and 196 members rating it underperform. Among 172 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 135 give General Motors a green thumbs-up, and 37 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on General Motors is outperform, with an average price target of $34.40.

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 General Motors. 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.