Alaska Air Group (NYSE: ALK) reported earnings on July 26. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended June 30 (Q2), Alaska Air Group met expectations on revenues and beat slightly on earnings per share.

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

Margins expanded across the board.

Revenue details
Alaska Air Group recorded revenue of $1.21 billion. The eight analysts polled by S&P Capital IQ predicted revenue of $1.21 billion on the same basis. GAAP reported sales were 9.3% higher than the prior-year quarter's $1.11 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 $1.53. The 14 earnings estimates compiled by S&P Capital IQ predicted $1.50 per share. GAAP EPS of $0.93 for Q2 were 138% higher than the prior-year quarter's $0.39 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 23.6%, 110 basis points better than the prior-year quarter. Operating margin was 9.5%, 190 basis points better than the prior-year quarter. Net margin was 5.6%, 300 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $1.29 billion. On the bottom line, the average EPS estimate is $2.17.

Next year's average estimate for revenue is $4.66 billion. The average EPS estimate is $4.85.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Alaska Air Group is outperform, with an average price target of $47.50.

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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 has no positions in the stocks mentioned above. 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.