Yum! Brands (NYSE: YUM) reported earnings on April 23. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 23 (Q1), Yum! Brands met expectations on revenues and beat expectations on earnings per share.

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

Gross margins grew, operating margins shrank, net margins dropped.

Revenue details
Yum! Brands reported revenue of $2.54 billion. The 21 analysts polled by S&P Capital IQ expected sales of $2.56 billion on the same basis. GAAP reported sales were 7.6% lower than the prior-year quarter's $2.74 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 $0.70. The 25 earnings estimates compiled by S&P Capital IQ forecast $0.60 per share. Non-GAAP EPS of $0.70 for Q1 were 7.9% lower than the prior-year quarter's $0.76 per share. GAAP EPS of $0.72 for Q1 were 25% lower than the prior-year quarter's $0.96 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 52.7%, much better than the prior-year quarter. Operating margin was 18.7%, 100 basis points worse than the prior-year quarter. Net margin was 13.3%, 340 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $3.02 billion. On the bottom line, the average EPS estimate is $0.57.

Next year's average estimate for revenue is $13.72 billion. The average EPS estimate is $3.04.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 3,183 members out of 3,316 rating the stock outperform, and 133 members rating it underperform. Among 803 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 779 give Yum! Brands a green thumbs-up, and 24 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Yum! Brands is outperform, with an average price target of $71.30.

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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.