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.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.