UPDATE: Best Buy Posts Upbeat Q4 Results

Best Buy Co

reported better-than-expected fourth-quarter results. Best Buy posted a quarterly loss of $409 million, or $1.21 per share, versus a year-ago loss of $1.82 billion, or $5.17 per share. Its revenue rose to $16.71 billion from $16.67 billion. Excluding items, its adjusted profit came in at $1.64 per share. However, analysts were expecting earnings of $1.54 per share on sales of $16.3 billion. Best Buy shares gained 6.34% to $17.45 in pre-market trading.