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TGT Earnings: Key quarterly highlights from Target’s Q1 2022 financial results

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.

Prior performance

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