CenturyLink (NYSE: CTL) reported earnings on May 8. Here are the numbers you need to know.

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

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

Margins grew across the board.

Revenue details
 CenturyLink chalked up revenue of $4.51 billion. The 15 analysts polled by S&P Capital IQ wanted to see revenue of $4.51 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.

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 $0.76. The 16 earnings estimates compiled by S&P Capital IQ predicted $0.68 per share. Non-GAAP EPS of $0.76 for Q1 were 12% higher than the prior-year quarter's $0.68 per share. GAAP EPS of $0.48 for Q1 were 50% higher than the prior-year quarter's $0.32 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 60.2%, 80 basis points better than the prior-year quarter. Operating margin was 17.3%, 230 basis points better than the prior-year quarter. Net margin was 6.6%, 230 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $4.55 billion. On the bottom line, the average EPS estimate is $0.66.

Next year's average estimate for revenue is $18.15 billion. The average EPS estimate is $2.67.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 519 members out of 574 rating the stock outperform, and 55 members rating it underperform. Among 157 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 138 give CenturyLink a green thumbs-up, and 19 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on CenturyLink is outperform, with an average price target of $36.72.

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