UPDATE: Best Buy Rises On Upbeat Earnings

Best Buy Co BBY posted a profit in the fourth quarter. Best Buy swung to a quarterly profit of $293 million, or $0.83 per share, versus a year-ago loss of $409 million, or $1.21 per share. Its adjusted operating income from continuing operations came in at $1.24 per share. Its revenue slipped to $14.47 billion versus $14.92 billion. However, analysts were projecting earnings of $1.01 per share on sales of $14.67 billion. Best Buy shares gained 5.38% to $27.21 in pre-market trading.