11/15/2023, 12:49 PM (Source: TeleTrader)
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Chart for: Target Corp

Target shares jump 12% after earnings report

Target's stocks rose in the premarket session on Wednesday following the release of Q3 2023 earnings, which beat expectations. Analysts had predicted earnings of $1.47 per share and revenue of $25.29 billion.

The company reported earnings per share at $2.10 and revenue at $25.4 billion, both exceeding the anticipated figures. Additionally, net earnings and operating income showed substantial growth by 36.3% and 28.9%, respectively. Furthermore, Target's CEO stated that "consumers have been remarkably resilient."

The retailer's shares jumped 12.12% at 6:46 am ET.

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