Best Buy earnings beat Wall Street’s forecasts

29 days ago
29

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.

read more: https://finance.yahoo.com/news/best-buy-earnings-beat-wall-streets-forecasts-retailer-raises-outlook-122240511.html?guccounter=1&guce_referrer=aHR0cHM6Ly9uZXdzLmdvb2dsZS5jb20v&guce_referrer_sig=AQAAAG9SihADAh_8hOe4Or8noJXhrDoe7uuz5snnL7NQm7lg-cXZhmUE9Oau1YC8nMLcm_RnVTfd8qDSQCx6i09QTDItG6Tm7JjSUZwqNV1eUbhbc-51yNPCr4DSBjN5So9LL4Etk5UrGz99UzN60YR2OZKHmyELJOSTK4UCT-MObMVm

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