Washingtonpost
Best Buy: Fiscal Q3 Earnings Snapshot
C.Chen3 months ago
RICHFIELD, Minn. — RICHFIELD, Minn. — Best Buy Co. (BBY) on Tuesday reported fiscal third-quarter net income of $263 million. The Richfield, Minnesota-based company said it had net income of $1.21 per share. Earnings, adjusted for non-recurring costs and amortization costs, were $1.29 per share. Get a curated selection of 10 of our best stories in your inbox every weekend. The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.19 per share. The consumer electronics retailer posted revenue of $9.76 billion in the period, falling short of Street forecasts. Eleven analysts surveyed by Zacks expected $9.88 billion. Best Buy expects full-year earnings in the range of $6 to $6.30 per share, with revenue in the range of $43.1 billion to $43.7 billion. Best Buy shares have fallen 15% since the beginning of the year, while the S&P’s 500 index has risen 18%. The stock has fallen 5.5% in the last 12 months.
Read the full article:https://www.washingtonpost.com/business/2023/11/21/earns-best-buy/88c4e746-8866-11ee-a36e-fdb7be9bd43d_story.html
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