Dollar Tree: Fiscal Q1 earnings snapshot

CHESAPEAKE, Va. — Dollar Tree Inc. today reported fiscal first-quarter net income of $536.4 million.

The company said it had profit of $2.37 per share.

The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.98 per share.

The discount retailer posted revenue of $6.9 billion in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $6.74 billion.

For the current quarter ending in August, Dollar Tree said it expects revenue in the range of $6.65 billion to $6.78 billion. Analysts surveyed by Zacks had expected revenue of $6.77 billion.

The company expects full-year earnings to be $7.80 to $8.20 per share, with revenue ranging from $27.76 billion to $28.14 billion.