Macy’s Inc reported first quarter earnings that Beat analysts' expectations on Wednesday and revenue that fell short of forecasts.
The firm reported earnings per share of $0.44 on revenue of $5.5B. Analysts polled by expected EPS of $0.34 on revenue of $5.54B. That compared to EPS of $0.48 on revenue of $5.54B in the same period a year earlier. The company had reported EPS of $2.73 on revenue of $8.46B in the previous quarter.
Macy’s Inc shares gained 7.48% to trade at $23.43 in pre-market trade following the report.
Macy’s Inc follows other major Services sector earnings this month
On April 25, Amazon.com reported first quarter EPS of $7.09 on revenue of $59.7B, compared to forecasts of EPS of $4.7 on revenue of $59.68B.
Visa A earnings Beat analysts' expectations on April 24, with second quarter EPS of $1.31 on revenue of $5.49B. analysts expected EPS of $1.24 on revenue of $5.46B
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