Kraft Foods (Nasdaq: KFT) reported earnings on Aug. 2. Here are the numbers you need to know.

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

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

Margins improved across the board.

Revenue details
 Kraft Foods reported revenue of $13.29 billion. The 15 analysts polled by S&P Capital IQ predicted revenue of $13.96 billion on the same basis. GAAP reported sales were 4.3% lower than the prior-year quarter's $13.88 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 $0.68. The 18 earnings estimates compiled by S&P Capital IQ predicted $0.66 per share. GAAP EPS of $0.58 for Q2 were 5.5% higher than the prior-year quarter's $0.55 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 36.7%, 160 basis points better than the prior-year quarter. Operating margin was 14.8%, 80 basis points better than the prior-year quarter. Net margin was 7.7%, 70 basis points better than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $13.43 billion. On the bottom line, the average EPS estimate is $0.63.

Next year's average estimate for revenue is $55.46 billion. The average EPS estimate is $2.49.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 2,419 members out of 2,571 rating the stock outperform, and 152 members rating it underperform. Among 798 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 768 give Kraft Foods a green thumbs-up, and 30 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Kraft Foods is outperform, with an average price target of $43.47.

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