06:59 AM EDT, 05/22/2024 (MT Newswires) -- Target ( TGT ) reported Q1 adjusted earnings Wednesday of $2.03 per share, down from $2.05 per share a year earlier, sending shares down 7% in premarket trading.

Analysts polled by Capital IQ expected $2.06 per share.

Revenue for the quarter ended May 4 was $24.53 billion, down compared with $25.32 billion a year earlier.

Analysts surveyed by Capital IQ expected $24.53 billion.

The company said it expects Q2 adjusted earnings between the range of $1.95 to $2.35 per share. Analysts surveyed by Capital IQ expect $2.19 per share. The company expects comparable sales to increase 0% to 2% in the second quarter.

For the full-year 2024, the company continued to expect adjusted earnings in the range of $8.60 to $9.60 per share.

Price: 143.05, Change: -12.73, Percent Change: -8.17