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Target Corp. Q1 Profit Decreases, misses estimates

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.

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