Target Beats Estimates by a Penny

Target

(TGT) - Get Report

posted third-quarter earnings that beat analysts' expectations by a penny.

Excluding charges, the discount retailer earned $216 million, or 24 cents a share, compared with $241 million, or 26 cents a share, in the same period last year. Nineteen analysts polled by

First Call/Thomson Financial

expected third-quarter earnings of 23 cents a share.

Revenue for the quarter grew 8.3% to $8.58 billion from $7.93 billion last year, while same-store sales rose 2.9%.

Target also said it repurchased $219 million of its stock during the quarter, or 8.5 million shares at an average price of $25.59 a share.

Shares of Target were recently higher by 7.6%, or $2, to $28.19 in

New York Stock Exchange

trading.