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Best Buy earnings beat Wall Street’s forecasts
Best Buy beat Wall Street expectations in Q3, with same-store sales up 2.7% and adjusted EPS of $1.40 on $9.67 billion in revenue.
The retailer raised its full-year outlook, now expecting same-store sales growth of 0.5%-1.2% and revenue between $41.65 billion and $41.95 billion.
Strong performance came from computing, gaming, and mobile phones, with particularly high demand for Nintendo’s Switch 2.
US same-store sales rose 2.4%, online sales 3.5%, and international sales 6.3%, all improvements over last year, Fox Business has reported.
CEO Corie Barry noted that consumption is currently concentrated among higher-income households, and the company expects modest growth for Q4 amid a value-driven retail environment.
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