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Tuesday May 21st, 2019 12:59AM

Target beats 3Q forecasts

By The Associated Press
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MINNEAPOLIS (AP) — Target is reporting third-quarter profit of $480 million.

The profit per share is 88 cents, or adjusted for one-time costs and benefits, 91 cents per share.

That easily beat Wall Street expectations on Wednesday of 86 cents per share, according to a survey by Zacks Investment Research.

The Minneapolis retailer posted revenue of $16.67 billion, also topping forecasts for $16.61 billion.

For the current quarter ending in January, Target expects its per-share earnings to range from $1.05 to $1.25. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.27.

The company expects full-year earnings in the range of $4.40 to $4.60 per share.

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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 https://www.zacks.com/ap/TGT

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