Avago Technologies (Nasdaq: AVGO) reported earnings on May 29. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended May 5 (Q2), Avago Technologies 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 dropped. GAAP earnings per share dropped significantly.

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

Revenue details
 Avago Technologies logged revenue of $562.0 million. The 17 analysts polled by S&P Capital IQ hoped for a top line of $557.2 million 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 $0.61. The 13 earnings estimates compiled by S&P Capital IQ anticipated $0.58 per share. Non-GAAP EPS of $0.61 for Q2 were 7.6% lower than the prior-year quarter's $0.66 per share. GAAP EPS of $0.45 for Q2 were 17% 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 50.9%, 10 basis points better than the prior-year quarter. Operating margin was 21.2%, 290 basis points worse than the prior-year quarter. Net margin was 20.1%, 310 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $603.2 million. On the bottom line, the average EPS estimate is $0.66.

Next year's average estimate for revenue is $2.39 billion. The average EPS estimate is $2.64.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 97 members out of 104 rating the stock outperform, and seven members rating it underperform. Among 26 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 26 give Avago Technologies a green thumbs-up, and give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Avago Technologies is outperform, with an average price target of $41.11.

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