Target (NYSE:TGT) stock was up on Wednesday following the release of its earnings report for the second quarter of 2018.
Here are a few things to know about Target’s earnings report for the second quarter of the year.
- Target reported earnings per share of $1.47 for the second quarter of 2018.
- The company’s earnings per share from the same period of the year prior was $1.23.
- Wall Street was looking for TGT to report earnings per share of $1.40 for the quarter.
- Target also reported revenue of $17.77 billion for the second quarter of the year.
- Revenue reported by the retail chain in the second quarter of 2017 was $16.63 billion.
- Analysts were expecting the company to report revenue of $17.31 billion during the period.
- The retail company’s net income for the second quarter of 2018 came in at $799 million.
- This is an increase over TGT’s net income of $671 million from the same time last year.
- Operating income reported by Target in the second quarter of the year was $1.13 billion.
- The company’s operating income reported in the second quarter of 2017 was $1.09 billion.
- Target also says it is now expecting earnings per share between $5.30 and $5.50 for the full year of 2018.
- The previous earnings per share outlook form TGT for 2018 was $5.15 to $5.45.
- Wall Street is looking for the company to report earnings per share of $5.28 for the period.
- Target’s guidance for the third quarter of 2018 has earnings per share ranging from $1.00 to $1.20.
- Analysts are estimating earnings per share of $1.08 for the third quarter of the year.
TGT stock was up 5% as of Wednesday morning and is up 23% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.