Best Buy Reports Better-Than-Expected Second Quarter Earnings
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Best Buy (BBY) Tops Q2 EPS by 9c; Raises EPS Guidance
August 29, 2019 7:03 AM EDTBest Buy (NYSE: BBY) reported Q2 EPS of $1.08, $0.09 better than the analyst estimate of $0.99. Revenue for the quarter came in at $9.54 billion versus the consensus estimate of $9.56 billion. Enterprise Comps rose 1.6%, Domestic comps rose 1.9%.
For the second quarter, we are reporting comparable sales growth of 1.6% on top of a very strong 6.2% last year, said Corie Barry, Best Buy CEO. We also delivered improved profitability driven by gross profit rate expansion and continued disciplined expense management, demonstrating the... More
