Consumer electronics retailer Best Buy Co. Inc.'s (BBY) first-quarter GAAP net earnings attributable to the company slid to $158 million or $0.46 per share from $212 million or $0.53 per share last year. On a GAAP basis, net earnings from continuing operations were $161 million, or $0.47 per share, versus $255 million, or $0.64 per share a year before, the company added.
However, excluding charges, quarterly adjusted earnings were $0.72, higher than $0.65 in the prior-year quarter. On average, analysts polled by Thomson Reuters expected earnings per share of $ for the quarter. Analysts' estimates typically exclude one-time items.
Revenue totaled $11.61 billion, up 2%, compared with $11.4 billion a year earlier.
For fiscal 2013, the company maintained its adjusted earnings per share outlook of $3.50 - $3.80, including the impact of expected share repurchases and excluding fiscal 2013 restructuring costs. Including charges, the GAAP earnings per share annual guidance is still expected in the range of $2.85 - $3.25.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.