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Did Target Beat Earnings?
Target (TGT) reported Q2 '26 revenue of $25.4B, up 6.7% year-over-year, with reported EPS of $1.71. That topped the $1.46 analyst estimate by 17.1% — an earnings beat.
AltIndex tracks earnings alongside 25+ alternative data signals that can move ahead of the report — Target’s job postings, web traffic, and employee business outlook. See the full TGT stock analysis or the earnings calendar for upcoming reports.
TGT Earnings Surprise History (EPS vs. Estimate)
| Quarter | Estimated EPS | Reported EPS | Surprise |
|---|---|---|---|
| Q2 '26 | $1.46 | $1.71 | Beat +17.1% |
| Q1 '26 | $2.16 | $2.44 | Beat +13.0% |
| Q4 '25 | $1.71 | $1.78 | Beat +4.1% |
| Q3 '25 | $2.03 | $2.05 | Beat +1.0% |
| Q2 '25 | $1.65 | $1.30 | Missed -21.2% |
| Q1 '25 | $2.25 | $2.41 | Beat +7.1% |
Target Quarterly Financial Trends
| Metric | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 25.5B | 25.7B | 30.9B | 23.8B | 25.2B | 25.3B | 30.5B | 25.4B |
| Gross margin | 30.0% | 28.3% | 26.0% | 28.2% | 29.0% | 28.2% | 26.6% | 29.0% |
| Operating margin | 6.4% | 4.6% | 4.7% | 6.2% | 5.2% | 3.8% | 4.5% | 4.5% |
| Net income | 1.19B | 854M | 1.1B | 1.04B | 935M | 689M | 1.05B | 781M |
| Net margin | 4.7% | 3.3% | 3.6% | 4.3% | 3.7% | 2.7% | 3.4% | 3.1% |
| EPS | $2.57 | $1.85 | $2.41 | $1.30 | $2.05 | $1.78 | $2.44 | $1.71 |
Target Earnings Trend Analysis
Over the eight quarters from Q3 '24 to Q2 '26, Target’s quarterly revenue moved from $25.5B to $25.4B. Net margin compressed from 4.7% to 3.1%, against a 29% gross margin in the most recent quarter — a read on whether revenue growth is translating into profit. Target has beaten Wall Street EPS estimates in 6 of its last 8 reported quarters.
When Is Target’s Next Earnings Date?
Target reports earnings on a quarterly schedule. Its most recent report covered Q2 '26. For the confirmed upcoming date — and every other company reporting soon — see the TGT earnings calendar.
Frequently Asked Questions: Target Earnings
Target's next earnings date has not been confirmed yet. See the earnings calendar for all upcoming reports.
Target reported Q2 '26 EPS of $1.71 on revenue of $25.4B (+6.7% YoY). Target beat estimates, reporting $1.71 vs. the $1.46 estimate.
Target reported Q2 '26 revenue of $25.4B, up 6.7% from the same quarter a year earlier.
Signals like job postings, web traffic, and employee sentiment reflect business activity in real time and can move before quarterly results are reported. AltIndex combines them with 25+ others in the TGT AI Score.
