Investing.com - Macy’s Inc reported second quarter earnings that beat analyst's expectations on Wednesday and reported revenue that topped forecasts.
The firm reported earnings per share of $0.59 on revenue of $5.57B. Analysts polled by Investing.com anticipated EPS of $0.5 on revenue of $5.56B.
That compared to EPS of $0.48 on revenue of $5.55B in the same period a year earlier.
The firm had reported EPS of $0.48 on revenue of $5.54B in the previous quarter.
Macy’s Inc shares gained 4.47% to trade at $41.87 in intra-day trade following the report.
For the year, Macy’s Inc shares are up 62.22%, outperforming the S&P 500 which is up 5.82% year to date.
Macy’s Inc follows other major earnings reports from the Services sector this month
Amazon.com (NASDAQ:AMZN) reported second quarter earnings that beat analyst's expectations on Thursday, July 26, 2018. The company reported revenue that fell short of forecasts. The firm reported EPS of $5.07 on revenue of $52.89B compared to forecasts of EPS of $2.48 on revenue of $53.37B
Visa reported third quarter earnings that beat analyst's expectations on Wednesday, July 25, 2018. The company reported revenue that topped forecasts. The firm reported EPS of $1.2 on revenue of $5.24B compared to forecasts of EPS of $1.09 on revenue of $5.09B