Medtronic (NYSE: MDT) reported earnings on May 21. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended April 26 (Q4), Medtronic beat slightly on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue grew. Non-GAAP earnings per share grew. GAAP earnings per share didn't change.

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

Revenue details
 Medtronic notched revenue of $4.46 billion. The 21 analysts polled by S&P Capital IQ looked for revenue of $4.38 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 $1.10. The 24 earnings estimates compiled by S&P Capital IQ anticipated $1.03 per share. Non-GAAP EPS of $1.10 for Q4 were 11% higher than the prior-year quarter's $0.99 per share. (The prior-year quarter included $0.10 per share in earnings from discontinued operations.) GAAP EPS of $0.95 were the same as the prior-year quarter.

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 74.6%, 100 basis points worse than the prior-year quarter. Operating margin was 30.7%, 120 basis points better than the prior-year quarter. Net margin was 21.7%, 140 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $4.12 billion. On the bottom line, the average EPS estimate is $0.90.

Next year's average estimate for revenue is $16.97 billion. The average EPS estimate is $3.84.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 1,709 members out of 1,802 rating the stock outperform, and 93 members rating it underperform. Among 502 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 488 give Medtronic a green thumbs-up, and 14 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Medtronic is outperform, with an average price target of $49.78.

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