FirstService (Nasdaq: FSRV) reported earnings on July 30. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended June 30 (Q2), FirstService missed slightly on revenues and crushed expectations on earnings per share.

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

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

Revenue details
 FirstService booked revenue of $601.9 million. The six analysts polled by S&P Capital IQ anticipated revenue of $613.2 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 $0.58. The eight earnings estimates compiled by S&P Capital IQ predicted $0.40 per share. Non-GAAP EPS of $0.58 for Q2 were 29% higher than the prior-year quarter's $0.45 per share. GAAP EPS were -$0.21 for Q2 against $0.28 per share for 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 35.0%, 20 basis points better than the prior-year quarter. Operating margin was 2.5%, 230 basis points worse than the prior-year quarter. Net margin was -1.0%, 280 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $629.3 million. On the bottom line, the average EPS estimate is $0.64.

Next year's average estimate for revenue is $2.43 billion. The average EPS estimate is $1.69.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on FirstService is outperform, with an average price target of $36.43.