MINNEAPOLIS (AP) — MINNEAPOLIS (AP) — Target Corp. (TGT) on Wednesday reported fiscal first-quarter net income of $942 million.
The Minneapolis-based company said it had profit of $2.03 per share.
The results did not meet Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $2.05 per share.
The retailer posted revenue of $24.53 billion in the period, exceeding Street forecasts. Eleven analysts surveyed by Zacks expected $24.52 billion.
For the current quarter ending in July, Target expects its per-share earnings to range from $1.95 to $2.35.
The company expects full-year earnings in the range of $8.60 to $9.60 per share.
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