Net earnings increased 43% to $1.2 billion, or $2.57 per share, compared to last year. Adjusted EPS was $2.57.
Revenue and earnings beat expectations, sending the stock soaring over 15% in premarket hours on Wednesday.
For the third quarter of 2024, Target expects a 0-2% increase in comparable sales. GAAP and adjusted EPS are both expected to range between $2.10-2.40.
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The company increased its earnings outlook for the full year of 2024 and now expects GAAP and adjusted EPS of $9.00-9.70, versus the prior range of $8.60-9.60.
Prior performance
