Target Corporation (NYSE:TGT) reported first quarter 2022 earnings results today.
Total revenue grew 4% year-over-year to $25.2 billion.
Net income declined 52% to $1 billion while EPS fell 48% to $2.16. Adjusted EPS decreased 41% to $2.19.
The top line beat estimates but the bottom line fell short of expectations, sending the stock crashing 22% during premarket hours on Wednesday.
For the full year of 2022, the company expects low to mid single digit revenue growth.
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