UPDATE: Best Buy Posts Q3 Profit

Best Buy

swung to a profit in the fiscal third-quarter profit. Best Buy posted a quarterly profit of $54 million, or $0.16 per share, versus a year-ago loss of $10 million, or $0.03 per share. Excluding one-time items, it earned $0.18 per share. Its revenue fell 0.2% to $9.36 billion. However, analysts were expecting earnings of $0.12 per share on revenue of $9.36 billion. Best Buy shares dropped 5.81% to $41.03 in pre-market trading.