Corning (NYSE: GLW) reported earnings on July 25. Here are the numbers you need to know.

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

Compared to the prior-year quarter, revenue dropped and GAAP earnings per share contracted significantly.

Margins shrank across the board.

Revenue details
 Corning chalked up revenue of $1.91 billion. The 16 analysts polled by S&P Capital IQ expected to see a top line of $2.01 billion on the same basis. GAAP reported sales were 4.8% lower than the prior-year quarter's $2.01 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 $0.31. The 18 earnings estimates compiled by S&P Capital IQ anticipated $0.31 per share. GAAP EPS of $0.30 for Q2 were 36% lower than the prior-year quarter's $0.47 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 41.8%, 250 basis points worse than the prior-year quarter. Operating margin was 16.5%, 490 basis points worse than the prior-year quarter. Net margin was 24.2%, 1,350 basis points worse than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $2.12 billion. On the bottom line, the average EPS estimate is $0.35.

Next year's average estimate for revenue is $8.13 billion. The average EPS estimate is $1.34.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 5,206 members out of 5,326 rating the stock outperform, and 120 members rating it underperform. Among 903 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 881 give Corning a green thumbs-up, and 22 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Corning is outperform, with an average price target of $15.64.

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