Investing.com - Macy’s Inc reported third quarter earnings that beat analysts' expectations on Wednesday and revenue that was inline with forecasts.
The firm reported earnings per share of $0.27 on revenue of $5.4B. Analysts polled by Investing.com expected EPS of $0.14 on revenue of $5.4B. That compared to EPS of $0.23 on revenue of $5.28B in the same period a year earlier. The company had reported EPS of $0.7 on revenue of $5.57B in the previous quarter.
Macy’s Inc shares lost 2.63% to trade at $34.85 in pre-market trade following the report.
For the year, Macy’s Inc shares are up 42.08%, outperforming the S&P 500 which is up 1.43% year to date.
Macy’s Inc follows other major Services sector earnings this month
On Thursday, October 25, 2018, Amazon.com reported third quarter EPS of $5.75 on revenue of $56.58B, compared to forecasts of EPS of $3.08 on revenue of $57.11B.
Alibaba earnings missed analyst's expectations on Friday, November 2, 2018, with second quarter EPS of $1.4 on revenue of $85.15B. Investing.com analysts expected EPS of $6.85 on revenue of $52,109M
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