Best Buy Reports Better-Than-Expected First Quarter Results
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Wedbush Remains Bearish on Best Buy (BBY) Following 1Q Review
May 25, 2016 8:01 AM EDTWedbush maintained an Underperform rating and $20.50 price target on Best Buy (NYSE: BBY) following a review of the company's 1Q. Revenue was $8.44 billion vs. the consensus of $8.29 billion, and guidance of $8.25 8.35 billion. Non-GAAP EPS was $0.44 vs. the consensus of $0.35, and guidance of $0.31 0.35. Results... More
Citi Downgrades Best Buy (BBY) to Neutral
May 24, 2016 7:54 AM EDTCiti downgraded Best Buy (NYSE: BBY) from Buy to Neutral.
For an analyst ratings summary and ratings history on Best Buy click here. For more ratings news on Best Buy click here.
Shares of Best Buy closed at $33.00 yesterday.
... MoreBest Buy (BBY) CAO, CFO McCollam to Step Down; Successor Named
May 24, 2016 7:05 AM EDTAs part of an internal succession plan, Best Buy announced that Sharon McCollam, the companys chief administrative and chief financial officer, will be stepping down on June 14, 2016. McCollam will remain with the company in an advisory capacity until the end of the fiscal year, January 28, 2017, to ensure a seamless transition.
Corie Barry, a 16-year veteran of Best Buy and its current chief strategic growth officer, will become the companys chief financial officer at the conclusion of Best Buys annual shareholder meeting, being held on June 14.
Hubert Joly, Best Buy chairman and CEO commented, Over her many... More
Best Buy (BBY) Tops Q1 EPS by 9c; Comps Outpace Views
May 24, 2016 7:03 AM EDTBest Buy (NYSE: BBY) reported Q1 EPS of $0.44, $0.09 better than the analyst estimate of $0.35. Revenue for the quarter came in at $8.44 billion versus the consensus estimate of $8.29 billion.
Comps fell 0.1%, versus a 1.6 percent drop expected.
Our teams delivered a strong first quarter, with better-than-expected revenue, improved profitability and progress against our fiscal 2017 initiatives, said Best Buy Chairman and CEO Hubert Joly. We are reaffirming our previously provided full year financial outlook which includes approximately flat revenue and non-GAAP operating income, with non-GAAP EPS growth driven by share repurchases. Although we are reporting... More
