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.