8/16/2023, 12:32 PM (Source: TeleTrader)
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Chart for: Target Corp

Target's Q2 EPS surge by 357.6% to hit $1.8

Target Corporation announced on Wednesday that its sales in the second quarter of the fiscal year 2023 observed an annual decline of 4.9% to hit $24.38 billion. Its total revenue decreased by 4.9% compared to the same trimester the year before to land at $24.77 billion. On the other hand, the company's net earnings soared by 365.5% to reach $835 million. Meanwhile, its diluted earnings per share (EPS) surged by 357.6% to come in at $1.80 per share.

"Our second quarter financial results clearly demonstrate the agility of our team and the resilience of our business model, as we saw better-than-expected profitability in the face of softer-than-expected sales," Target's Chair and Chief Executive Brian Cornell commented.

Following the release of the report, Target's shares jumped by 8.16% in premarket trading.

Baha Breaking News (BBN) / JR