GameStop (NYSE: GME) reported earnings on May 23. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended May 4 (Q1), GameStop beat expectations on revenues and beat expectations on earnings per share.

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

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

Revenue details
 GameStop booked revenue of $1.87 billion. The 17 analysts polled by S&P Capital IQ anticipated revenue of $1.83 billion on the same basis. GAAP reported sales were 6.8% lower than the prior-year quarter's $2.00 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 $0.46. The 20 earnings estimates compiled by S&P Capital IQ anticipated $0.40 per share. GAAP EPS of $0.46 for Q1 were 15% lower than the prior-year quarter's $0.54 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 31.0%, 100 basis points better than the prior-year quarter. Operating margin was 4.7%, 100 basis points worse than the prior-year quarter. Net margin was 2.9%, 70 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $1.43 billion. On the bottom line, the average EPS estimate is $0.08.

Next year's average estimate for revenue is $8.65 billion. The average EPS estimate is $3.08.

Investor sentiment
 The stock has a one-star rating (out of five) at Motley Fool CAPS, with 2,819 members out of 3,173 rating the stock outperform, and 354 members rating it underperform. Among 751 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 656 give GameStop a green thumbs-up, and 95 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on GameStop is outperform, with an average price target of $32.36.

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