Deere (NYSE: DE) reported earnings on May 15. Here are the numbers you need to know.

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

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

Gross margins expanded, operating margins expanded, net margins dropped.

Revenue details
 Deere logged revenue of $10.27 billion. The 13 analysts polled by S&P Capital IQ expected revenue of $9.84 billion on the same basis. GAAP reported sales were 9.0% higher than the prior-year quarter's $10.01 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 $2.76. The 17 earnings estimates compiled by S&P Capital IQ predicted $2.73 per share. GAAP EPS of $2.76 for Q2 were 5.7% higher than the prior-year quarter's $2.61 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 31.4%, 160 basis points better than the prior-year quarter. Operating margin was 17.7%, 170 basis points better than the prior-year quarter. Net margin was 9.9%, 70 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $9.41 billion. On the bottom line, the average EPS estimate is $2.19.

Next year's average estimate for revenue is $35.66 billion. The average EPS estimate is $8.61.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 2,764 members out of 2,894 rating the stock outperform, and 130 members rating it underperform. Among 612 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 584 give Deere a green thumbs-up, and 28 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Deere is outperform, with an average price target of $98.33.

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