Edwards Lifesciences (NYSE: EW) reported earnings on April 23. Here are the numbers you need to know.

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

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

Margins expanded across the board.

Revenue details
Edwards Lifesciences notched revenue of $496.7 million. The 22 analysts polled by S&P Capital IQ looked for a top line of $518.7 million on the same basis. GAAP reported sales were 8.2% higher than the prior-year quarter's $459.2 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 $0.72. The 25 earnings estimates compiled by S&P Capital IQ averaged $0.76 per share. Non-GAAP EPS of $0.72 for Q1 were 36% higher than the prior-year quarter's $0.53 per share. GAAP EPS of $1.24 for Q1 were 125% 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 75.4%, 310 basis points better than the prior-year quarter. Operating margin was 22.0%, 320 basis points better than the prior-year quarter. Net margin was 29.2%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $535.8 million. On the bottom line, the average EPS estimate is $0.81.

Next year's average estimate for revenue is $2.14 billion. The average EPS estimate is $3.28.

Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 148 members out of 201 rating the stock outperform, and 53 members rating it underperform. Among 60 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 44 give Edwards Lifesciences a green thumbs-up, and 16 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Edwards Lifesciences is outperform, with an average price target of $98.40.

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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 position in any of the stocks mentioned. 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.