AT&T (NYSE: T) reported earnings on July 24. Here are the numbers you need to know.

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

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

Margins improved across the board.

Revenue details
 AT&T chalked up revenue of $31.58 billion. The 28 analysts polled by S&P Capital IQ wanted to see revenue of $31.69 billion on the same basis. GAAP reported sales were 0.3% higher than the prior-year quarter's $31.50 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 $0.66. The 32 earnings estimates compiled by S&P Capital IQ predicted $0.63 per share. GAAP EPS of $0.66 for Q2 were 10% higher than the prior-year quarter's $0.60 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 60.8%, 310 basis points better than the prior-year quarter. Operating margin was 21.6%, 200 basis points better than the prior-year quarter. Net margin was 12.4%, 100 basis points better than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $31.60 billion. On the bottom line, the average EPS estimate is $0.64.

Next year's average estimate for revenue is $127.25 billion. The average EPS estimate is $2.37.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 5,348 members out of 5,811 rating the stock outperform, and 463 members rating it underperform. Among 1,326 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 1,251 give AT&T a green thumbs-up, and 75 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on AT&T is hold, with an average price target of $34.12.

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