Best Buy: Fiscal Fourth Quarter Earnings Overview

Best Buy Announces Fourth Quarter Financial Results

Best Buy Co., headquartered in Richfield, Minnesota, revealed on Tuesday that it achieved a net profit of $541 million for its fiscal fourth quarter.

The company reported earnings of $2.56 per share, and after accounting for special items, adjusted earnings reached $2.61 per share.

These adjusted earnings surpassed analysts’ expectations, as a consensus of 12 experts polled by Zacks Investment Research had predicted $2.48 per share.

During the quarter, the electronics retailer generated $13.81 billion in revenue, falling short of the $13.91 billion anticipated by 10 analysts surveyed by Zacks.

Looking ahead, Best Buy projects its annual earnings per share to fall between $6.30 and $6.60, with expected revenue ranging from $41.2 billion to $42.1 billion.

Since the start of the year, Best Buy’s stock price has declined by 8%, in contrast to the S&P 500 index, which has edged up by 0.5%. Over the past year, the company’s shares have dropped 31%.