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Macy's Inc. Q3 adjusted earnings Beat Estimates

Macy's Inc. (M) released a profit for third quarter that dropped from last year.

The company's profit came in at $2 million, or $0.01 per share. This compares with $62 million, or $0.20 per share, in last year's third quarter.

Excluding items, Macy's Inc. reported adjusted earnings of $21 million or $0.07 per share for the period.

Analysts had expected the company to earn $0.00 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 4.3% to $5.17 billion from $5.40 billion last year.

Macy's Inc. earnings at a glance:

-Earnings (Q3): $21 Mln. vs. $83 Mln. last year.
-EPS (Q3): $0.07 vs. $0.27 last year.
-Analysts Estimate: $0.00
-Revenue (Q3): $5.17 Bln vs. $5.40 Bln last year.

Full year EPS guidance: $2.57 to $2.77

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