Target surges 18% to record high after smashing forecasts and raising profit outlook

Shares of Target soared as much as 18% to a record high on Wednesday after the retailer reported second-quarter earnings that outperformed Wall Street forecasts.

  • Here are the key numbers from Target’s second-quarter earnings:
  • Revenue: $18.42 billion versus $18.25 billion expected by analysts.
  • Earnings per share: $1.82 compared with $1.62 estimated by analysts.
  • Profit: $1.32 billion, up 17% from the same period last year.
  • Same-store sales: up 3.4% from last year.

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