Target Corp. Q3 Profit Decreases, misses estimates

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

The company's bottom line came in at $712 million, or $1.54 per share. This compares with $1.49 billion, or $3.04 per share, in last year's third quarter.

Excluding items, Target Corp. reported adjusted earnings of $1.54 per share for the period.

Analysts on average had expected the company to earn $2.13 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.4% to $26.52 billion from $25.65 billion last year.

Target Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $712 Mln. vs. $1.49 Bln. last year. -EPS (Q3): $1.54 vs. $3.04 last year. -Analyst Estimates: $2.13 -Revenue (Q3): $26.52 Bln vs. $25.65 Bln last year.