Best Buy Beats Expectations, Stock Drops

Best Buys fiscal third-quarter earnings exceeded expectations, with a net income of $140 million, or $0.66 per share, and adjusted earnings of $1.40 per share. Revenue reached $9.67 billion, surpassing forecasts. The company projects full-year earnings between $6.25 and $6.35 per share and revenue between $41.65 billion and $41.95 billion. Despite these strong results, Best Buys stock has declined 12% this year and 16% in the last twelve months.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.