Medtronic (NYSE: MDT) reported earnings on May 22. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended April 27 (Q4), Medtronic beat slightly on revenues and met expectations on earnings per share.

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

Gross margins expanded, operating margins dropped, net margins increased.

Revenue details
 Medtronic logged revenue of $4.30 billion. The 22 analysts polled by S&P Capital IQ hoped for revenue of $4.23 billion on the same basis. GAAP reported sales were 0.0% higher than the prior-year quarter's $4.30 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 $0.99. The 25 earnings estimates compiled by S&P Capital IQ predicted $0.98 per share. GAAP EPS of $0.95 for Q4 were 32% higher than the prior-year quarter's $0.72 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 75.6%, 30 basis points better than the prior-year quarter. Operating margin was 29.5%, 140 basis points worse than the prior-year quarter. Net margin was 23.1%, 500 basis points better than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $4.01 billion. On the bottom line, the average EPS estimate is $0.87.

Next year's average estimate for revenue is $16.52 billion. The average EPS estimate is $3.66.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 1,727 members out of 1,817 rating the stock outperform, and 91 members rating it underperform. Among 490 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 472 give Medtronic a green thumbs-up, and 18 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Medtronic is outperform, with an average price target of $42.90.

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