Corning (NYSE: GLW) reported earnings on April 24. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended March 31 (Q1), Corning missed estimates on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue dropped. Non-GAAP earnings per share was unchanged. GAAP earnings per share grew.

Gross margins were steady, operating margins grew, net margins grew.

Revenue details
 Corning reported revenue of $1.81 billion. The 14 analysts polled by S&P Capital IQ predicted revenue of $1.96 billion on the same basis. GAAP reported sales were 5.5% lower than the prior-year quarter's $1.92 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 $0.30. The 17 earnings estimates compiled by S&P Capital IQ anticipated $0.24 per share. Non-GAAP EPS of $0.30 were the same as the prior-year quarter. GAAP EPS of $0.33 for Q1 were 10% higher than the prior-year quarter's $0.30 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 42.4%, much about the same as the prior-year quarter. Operating margin was 18.0%, 10 basis points better than the prior-year quarter. Net margin was 27.2%, 310 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $2.07 billion. On the bottom line, the average EPS estimate is $0.28.

Next year's average estimate for revenue is $8.38 billion. The average EPS estimate is $1.21.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 5,318 members out of 5,443 rating the stock outperform, and 125 members rating it underperform. Among 961 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 938 give Corning a green thumbs-up, and 23 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 $14.07.

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