Verizon Communications (NYSE: VZ) reported earnings on July 19. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended June 30 (Q2), Verizon Communications met expectations on revenues and earnings per share.

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

Margins grew across the board.

Revenue details
Verizon Communications booked revenue of $28.55 billion. The 28 analysts polled by S&P Capital IQ hoped for a top line of $28.55 billion on the same basis. GAAP reported sales were 3.7% higher than the prior-year quarter's $27.54 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 $0.64. The 32 earnings estimates compiled by S&P Capital IQ anticipated $0.64 per share. GAAP EPS of $0.64 for Q2 were 12% higher than the prior-year quarter's $0.57 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 61.8%, 230 basis points better than the prior-year quarter. Operating margin was 19.8%, 200 basis points better than the prior-year quarter. Net margin was 6.4%, 60 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $28.87 billion. On the bottom line, the average EPS estimate is $0.67.

Next year's average estimate for revenue is $115.11 billion. The average EPS estimate is $2.50.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 4,587 members out of 4,865 rating the stock outperform, and 278 members rating it underperform. Among 1,093 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 1,044 give Verizon Communications a green thumbs-up, and 49 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Verizon Communications is outperform, with an average price target of $41.34.

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Seth Jayson owned shares of the following at the time of publication: Verizon Communications. 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.