Cree (Nasdaq: CREE) reported earnings on Jan. 22. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended Dec. 30 (Q2), Cree beat expectations on revenues and beat expectations on earnings per share.

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

Margins expanded across the board.

Revenue details
 Cree booked revenue of $346.3 million. The 28 analysts polled by S&P Capital IQ predicted sales of $331.1 million on the same basis. GAAP reported sales were 14% higher than the prior-year quarter's $304.1 million.

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 $0.32. The 29 earnings estimates compiled by S&P Capital IQ averaged $0.30 per share. GAAP EPS of $0.18 for Q2 were 80% higher than the prior-year quarter's $0.10 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 38.5%, 390 basis points better than the prior-year quarter. Operating margin was 7.4%, 320 basis points better than the prior-year quarter. Net margin was 5.9%, 190 basis points better than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $322.2 million. On the bottom line, the average EPS estimate is $0.28.

Next year's average estimate for revenue is $1.32 billion. The average EPS estimate is $1.20.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 1,100 members out of 1,185 rating the stock outperform, and 85 members rating it underperform. Among 228 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 211 give Cree a green thumbs-up, and 17 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Cree is outperform, with an average price target of $33.98.

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