Frontier Communications (Nasdaq: FTR) reported earnings on May 9. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended March 31 (Q1), Frontier Communications met expectations on revenues and missed estimates on earnings per share.

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

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

Revenue details
 Frontier Communications reported revenue of $1.27 billion. The 12 analysts polled by S&P Capital IQ expected to see revenue of $1.26 billion on the same basis. GAAP reported sales were 5.8% lower than the prior-year quarter's $1.35 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 $0.05. The 14 earnings estimates compiled by S&P Capital IQ anticipated $0.06 per share. GAAP EPS of $0.03 for Q1 were 40% lower than the prior-year quarter's $0.05 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 90.9%, 210 basis points better than the prior-year quarter. Operating margin was 19.7%, 10 basis points better than the prior-year quarter. Net margin was 2.1%, 200 basis points worse than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $1.25 billion. On the bottom line, the average EPS estimate is $0.06.

Next year's average estimate for revenue is $4.94 billion. The average EPS estimate is $0.23.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 967 members out of 1,068 rating the stock outperform, and 102 members rating it underperform. Among 202 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 182 give Frontier Communications 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 Frontier Communications is outperform, with an average price target of $5.19.

New mobile devices and services are changing the game and potential profitability in the telecom industry. Some will fail, some will tread water, and those providing the right services and the right devices will shine. Where does Frontier Communications fit in? Who will lead going forward? Check out "3 Hidden Winners of the iPhone, iPad, and Android Revolution." Click here for instant access to this free report.