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.

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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 $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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Seth Jayson had no position in any company mentioned here at the time of publication. 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. The Motley Fool owns shares of McDonald's. Motley Fool newsletter services have recommended buying shares of McDonald's. 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.