UPDATE: Best Buy Posts Downbeat Q3 Profit
Best Buy Co (NYSE: BBY) posted a loss in the fiscal third quarter.
Best Buy posted a quarterly loss of $10 million, or $0.03 per share, versus a year-ago profit of $156 million, or $0.43 per share. Excluding restructuring charges, Best Buy earned $0.03 per share.
Its revenue declined to $10.75 billion from $11.1 billion. However, analysts were expecting a profit of $0.12 per share on revenue of $10.73 billion.
Best Buy's comparable store sales dropped 4.3%.
Best Buy shares dropped 5.67% to $12.97 in pre-market trading.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.