MINNEAPOLIS (AP) – Target Corp. (TGT) on Wednesday reported fiscal second-quarter net income of $680 million.
The Minneapolis-based company said it had profit of $1.16 per share. Earnings, adjusted for one-time gains and costs, came to $1.23 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.14 per share.
The retailer posted revenue of $16.17 billion in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $16.25 billion.
For the current quarter ending in November, Target expects its per-share earnings to range from 75 cents to 95 cents.
The company expects full-year earnings in the range of $4.80 to $5.20 per share.
Target shares have increased 4 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed nearly 7 percent. The stock has fallen slightly more than 4 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TGT at http://www.zacks.com/ap/TGT
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Keywords: Target, Earnings Report, Priority Earnings