Best Buy (BBY) Tops Q4 EPS by 28c, Sales Miss; Guides Q1 Below Views, New $3B Buyback and Raised Dividend

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Go back to Best Buy (BBY) Tops Q4 EPS by 28c, Sales Miss; Guides Q1 Below Views, New $3B Buyback and Raised Dividend

Best Buy Announces Increased Capital Return to Shareholders

March 1, 2017 7:02 AM EST

Two-Year $3 Billion Share Repurchase Plan

21% Increase in Quarterly Dividend to $0.34 per Share

MINNEAPOLIS--(BUSINESS WIRE)-- Best Buy Co., Inc. (NYSE: BBY) today announced that its Board of Directors approved a plan to return excess capital to shareholders as follows:

A new $3 billion share repurchase plan expected to be completed over the next two years; and A 21% increase in the regular quarterly dividend to $0.34 per share, effective immediately.

This updated capital return plan is consistent with the... More

Best Buy Reports Better-Than-Expected Fourth Quarter Earnings

March 1, 2017 7:02 AM EST

GAAP Diluted EPS Increased 37% to $1.91

Non-GAAP Diluted EPS Increased 27% to $1.95

Full Year GAAP and Non-GAAP Diluted EPS Increased 63% and 28% respectively

MINNEAPOLIS--(BUSINESS WIRE)-- Best Buy Co., Inc. (NYSE: BBY) today announced results for the fourth quarter (Q4 FY17) and year ended January 28, 2017 (FY17), as compared to the fourth quarter (Q4 FY16) and year ended January 30, 2016 (FY16). The company reported Q4 FY17 GAAP diluted earnings per share from continuing operations of $1.91, an increase of 37% from $1.39 in Q4 FY16. Non-GAAP diluted earnings per share from continuing operations for Q4 FY17 were $1.95, an increase of 27% from $1.53 in Q4 FY16.

             ... More