Target Corp. Q1 Profit Decreases, misses estimates

(RTTNews) - Target Corp. (TGT) announced earnings for first quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings came in at $1.01 billion, or $2.16 per share. This compares with $2.10 billion, or $4.17 per share, in last year's first quarter.

Excluding items, Target Corp. reported adjusted earnings of $2.19 per share for the period.

Analysts on average had expected the company to earn $3.06 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.0% to $25.17 billion from $24.20 billion last year.

Target Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $1.01 Bln. vs. $2.10 Bln. last year. -EPS (Q1): $2.16 vs. $4.17 last year. -Analyst Estimates: $3.06 -Revenue (Q1): $25.17 Bln vs. $24.20 Bln last year.