Macy’s: Fiscal Q3 Earnings Snapshot
NEW YORK (AP) _ Macy’s Inc. (M) on Thursday reported fiscal third-quarter net income of $108 million.
The New York-based company said it had profit of 39 cents per share. Earnings, adjusted for one-time gains and costs, came to 52 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.
The department store operator posted revenue of $5.23 billion in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $5.17 billion.
Macy’s expects full-year earnings in the range of $4.07 to $4.27 per share, with revenue in the range of $24.34 billion to $24.58 billion.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on M at https://www.zacks.com/ap/M