Target Corp. Q1 Profit Decreases, but beats estimates

(RTTNews) - Target Corp. (TGT) revealed a profit for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $950 million, or $2.05 per share. This compares with $1.01 billion, or $2.16 per share, in last year's first quarter.

Excluding items, Target Corp. reported adjusted earnings of $2.05 per share for the period.

Analysts on average had expected the company to earn $1.76 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 0.5% to $24.95 billion from $24.83 billion last year.

Target Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $950 Mln. vs. $1.01 Bln. last year. -EPS (Q1): $2.05 vs. $2.16 last year. -Analyst Estimates: $1.76 -Revenue (Q1): $24.95 Bln vs. $24.83 Bln last year.

-Guidance: Next quarter EPS guidance: $1.30 to $1.70 Full year EPS guidance: $7.75 to $8.75