Loblaw Companies (L.TO) reported a profit for its second quarter that Increased from the same period last year and beat the Street estimates.
The company's earnings came in at C$714 million, or C$2.37 per share. This compares with C$457 million, or C$1.48 per share, last year.
Excluding items, Loblaw Companies reported adjusted earnings of C$721 million or C$2.40 per share for the period.
Analysts on average had expected the company to earn C$2.33 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 5.2% to C$14.67 billion from C$13.95 billion last year.
Loblaw Companies earnings at a glance (GAAP) :
-Earnings: C$714 Mln. vs. C$457 Mln. last year.-EPS: C$2.37 vs. C$1.48 last year.-Revenue: C$14.67 Bln vs. C$13.95 Bln last year.
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