Canon (NYSE: CAJ) reported earnings on April 27. Here are the numbers you need to know.

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

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

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

Revenue details
Canon booked revenue of $10.06 billion. The nine analysts polled by S&P Capital IQ foresaw sales of $10.20 billion on the same basis. GAAP reported sales were 0.6% lower than the prior-year quarter's $10.13 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 $0.63. The one earnings estimate compiled by S&P Capital IQ predicted $0.62 per share. GAAP EPS of $0.63 for Q1 were 17% higher than the prior-year quarter's $0.54 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 47.1%, 130 basis points worse than the prior-year quarter. Operating margin was 10.0%, 20 basis points better than the prior-year quarter. Net margin was 7.4%, 80 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $11.58 billion. On the bottom line, the average EPS estimate is $0.68.

Next year's average estimate for revenue is $47.21 billion. The average EPS estimate is $3.21.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 475 members rating the stock outperform and 22 members rating it underperform. Among 149 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 144 give Canon a green thumbs-up, and five give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Canon is outperform, with an average price target of $45.42.

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.