Best Buy Reports Fourth Quarter Results

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Go back to Best Buy Reports Fourth Quarter Results

Best Buy (BBY) rises on earnings, revenue beat

February 29, 2024 8:40 AM EST

(Updated - February 29, 2024 8:54 AM EST)

Best Buy (NYSE: BBY) reported a stronger-than-expected finish to its fiscal year, with fourth-quarter earnings and revenue surpassing analyst estimates. The company's shares surged 3.54% as investors responded positively to the news.

For the fourth quarter, the electronics retailer posted adjusted earnings per share (EPS) of $2.72, exceeding the consensus estimate of $2.52. Revenue for the quarter was also higher than expected at $14.65 billion, compared to the analyst forecast of $14.56 billion. Despite a challenging consumer electronics sales environment, the company's revenue showed resilience, declining only 0.9% from the... More