Best Buy (BBY) Tops Q3 EPS by 15c; Comps Beat Views; Issues Mixed Q4 Outlook
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(Updated - November 17, 2016 7:02 AM EST)
Best Buy (NYSE: BBY) reported Q3 EPS of $0.62, $0.15 better than the analyst estimate of $0.47. Revenue for the quarter came in at $8.95 billion versus the consensus estimate of $8.85 billion.
Domestic comps rose 1.8 percent, versus a gain of 1.0 percent expected by analysts.
Best Buy is providing the following Q4 FY17 financial guidance:
- Enterprise revenue in the range of $13.4 billion to $13.6 billion. (The Street sees $13.7 billion.)
- Enterprise comparable sales change in the range of (1.0%) to 1.0%
- Domestic comparable sales change in the range of (1.0%) to 1.0%
- International comparable sales change in the range of (2.0%) to 2.0%
- Non-GAAP effective income tax rate of 35.0% to 35.5%3
- Diluted weighted average share count of approximately 315 million
- Non-GAAP diluted EPS of $1.62 to $1.673. (The Street sees $1.58.)
Note: In Q4 FY17, International revenue is expected to once again be comparable on a year-over-year basis and therefore the company is now guiding Enterprise, Domestic and International comparable sales.5
For earnings history and earnings-related data on Best Buy (BBY) click here.
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