Investing.com - Tesco (OTC:TSCDY) reported on Wednesday second quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Tesco announced earnings per share of £0.04 on revenue of £28.72B. Analysts polled by Investing.com anticipated EPS of £7.51 on revenue of £31,783M.
Tesco shares are down 16.69% from the beginning of the year, still down 18.36% from its 52 week high of £260.40 set on December 16, 2019. They are outperforming the TR UK 50 which is down 21.28% from the start of the year.
Tesco follows other major Services sector earnings this month
Tesco's report follows an earnings missed by Next on September 17, who reported EPS of £-0.09 on revenue of £1.29B, compared to forecasts EPS of £196.18 on revenue of £2,043M.
Kingfisher had missed expectations on September 22 with second quarter EPS of £0.15 on revenue of £5.92B, compared to forecast for EPS of £11.50 on revenue of £3.74B.
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