Gap (NYSE: GPS) reported earnings on Thursday. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended April 28 (Q1), Gap beat expectations on revenues and beat slightly on earnings per share.

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

Margins shrank across the board.

Revenue details
Gap notched revenue of $3.49 billion. The 10 analysts polled by S&P Capital IQ expected to see sales of $3.41 billion on the same basis. GAAP reported sales were 5.8% higher than the prior-year quarter's $3.30 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 $0.47. The 22 earnings estimates compiled by S&P Capital IQ predicted $0.46 per share. GAAP EPS of $0.47 for Q1 were 18% higher than the prior-year quarter's $0.40 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 39.4%, 20 basis points worse than the prior-year quarter. Operating margin was 11.3%, 60 basis points worse than the prior-year quarter. Net margin was 6.7%, 40 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $3.50 billion. On the bottom line, the average EPS estimate is $0.37.

Next year's average estimate for revenue is $15.26 billion. The average EPS estimate is $1.93.

Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 518 members rating the stock outperform and 313 members rating it underperform. Among 255 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 154 give Gap a green thumbs-up, and 101 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Gap is hold, with an average price target of $26.81.

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