Best Buy earnings beat expectations [MarketWatch]
News Corporation - Class B (NWS)
US:NASDAQ Investor Relations:
investors.newscorp.com/investor-relations
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Source: MarketWatch
Best Buy earnings beat expectations Best Buy Co. Inc. BBY, -6.37% reported third-quarter net income of $277 million, or 99 cents per share, up from $239 million, or 78 cents per share, the prior year. Adjusted EPS was 93 cents. Revenue was $9.59 billion, up from $9.32 billion last year. The FactSet consensus was for 85 cents per share on revenue of $9.57 billion. Same-store sales were up 4.3%, ahead of the FactSet outlook for 3.5% growth. For the fourth quarter, Best Buy now sees revenue of $14.4 billion to $14.8 billion, adjusted EPS of $2.48 to $2.58 and enterprise, domestic and international same-store sales growth of flat to 3%. FactSet is guiding for revenue of $14.67 billion, EPS of $2.58, and same-store sales of 1.7%. Best Buy shares slipped 0.3% in Tuesday premarket trading, and have tumbled 9.2% for the year to date. The S&P 500 index SPX, -1.66% is up 0.6% for the period. Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up her
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