Best Buy Stock News

Consumer electronics retailer Best Buy on Thursday edged above Wall Street''s earnings target for the holiday sales quarter but missed views on sales.

(Reuters) – Best Buy Co Inc forecast downbeat full-year revenue and fell short of holiday quarter sales estimates on Thursday, with the top U.S. electronics retailer shackled by product shortages and an Omicron-caused staffing crunch.

Best Buy Co. Inc. shares rose 1.6% in Thursday premarket trading after the electronics retailer reported fourth-quarter profit that beat expectations. The company posted net income of $626 million, or $2.62 per share, down from $816 million, or $3.10 per share, last year. Adjusted EPS of $2.73 beat the FactSet consensus of $2.72. Revenue of $16.365 billion was down from $16.937 billion and below the FactSet consensus for $16.598 billion. Comparable sales fell 2.3%, wider than the FactSet consensus for a 0.9% decline. "Q4 sales of $16.4 billion were impacted by more constrained inventory than expected, including some high-demand holiday items, and the temporary reduction in store hours in January due to Omicron-induced staffing challenges," said Chief Executive Corie Barry in a statement. "The biggest areas of investment were our new membership program, technology and Best Buy Health, all core to our future growth potential." Best Buy has raised its quarterly dividend 26% to 88 cents per share payable on April 14 to shareholders of record as of March 24.

Projected income increased to $14,946 an increase of 9.4% over 2020's total.

Best Buy (NYSE:BBY) declares $0.88/share quarterly dividend, 25.7% increase from prior dividend of $0.70.Forward yield 3.49%Payable April 14; for shareholders of record March 24; ex-div…

Best Buy Co. Inc. (NYSE: BBY) reported the fourth quarter of 2022 earnings results today. Enterprise revenues decreased to $16.3 billion from $16.9 billion in the same period a year […] The post Infographic: How Best Buy (BBY) performed in Q4 2022 first appeared on AlphaStreet .

Best Buy press release (BBY): Q4 Non-GAAP EPS of $2.73 beats by $0.02.Revenue of $16.37B (-3.4% Y/Y) misses by $170M.Shares -3.8% PM.Comparable sales decreased 2.3%.The company…

The consumer electronics retailer, which has been a pandemic beneficiary, gave a weaker-than-expected outlook for the coming year.

The company reported a decrease of 2.7% comparable store sales in the 4th quarter after having achieved a spectacular 12,5% increase in the previous coronavirus ridden year.

Yahoo Finance Live's Julie Hyman and Brian Sozzi discuss earnings for Snowflake, Okta, Best Buy, and Victoria's Secret.

Inflation may rise and fall, supply chains will ebb and flow, and the pandemic will (hopefully) continue to fade, but Best Buy CEO Corie Barry told investors Thursday (March 3) that the structural cha

Best Buy (BBY) delivered earnings and revenue surprises of 0.37% and 1.30%, respectively, for the quarter ended January 2022. Do the numbers hold clues to what lies ahead for the stock?

Best Buy Co Inc   (NYSE:BBY ) is up 9.3% to trade at $110.35 this morning, despite the technology retailer posting a fourth-quarter revenue miss and worse-than-expected 2023 forecast, while profits w

Best Buy (BBY) stock is rising higher Thursday following the release of the company's earnings report for the fourth quarter of fiscal 2022. The post Is BBY Stock a Buy After Earnings?

The electronics retailer was a big pandemics winner as consumers used stimulus checks to buy electronics. But analysts worry that momentum is slowing.