Best Buy Co. Inc. (NYSE:BBY) stock traded lower Thursday after the electronics retailer reported better-than-expected second-quarter results and raised its full-year outlook.
Earnings Snapshot
Best Buy reported adjusted earnings of $1.47 per share, beating the consensus estimate of $1.38.
Sales increased 3.6% year over year to $9.78 billion, topping the $9.59 billion estimate.
Comparable sales rose 4.1%, well above the company’s guidance for roughly 1% growth. Computing led comparable sales growth for the 10th consecutive quarter, supported by upgrades, replacements and new products. Best Buy Business sales jumped 21%.
