McDonald's (NYSE: MCD) reported earnings on July 23. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended June 30 (Q2), McDonald's met expectations on revenue and missed estimates on earnings per share.

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

Gross margins contracted, operating margins grew, and net margins contracted.

Revenue details
McDonald's reported revenue of $6.92 billion. The 22 analysts polled by S&P Capital IQ predicted a top line of $6.96 billion on the same basis. GAAP reported sales were 0.2% higher than the prior-year quarter's $6.91 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 $1.32. The 24 earnings estimates compiled by S&P Capital IQ predicted $1.38 per share. GAAP EPS of $1.32 for Q2 were 2.2% lower than the prior-year quarter's $1.35 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 39.3%, 20 basis points worse than the prior-year quarter. Operating margin was 31.2%, 20 basis points better than the prior-year quarter. Net margin was 19.5%, 90 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $7.27 billion. On the bottom line, the average EPS estimate is $1.51.

Next year's average estimate for revenue is $27.82 billion. The average EPS estimate is $5.46.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 5,752 members out of 6,038 rating the stock outperform, and 286 members rating it underperform. Among 1,502 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 1,452 give McDonald's a green thumbs-up, and 50 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on McDonald's is outperform, with an average price target of $101.09.

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