Best Buy Trades Higher On Q3 Earnings Beat, Raises Guidance

Best Buy Co BBY reported third-quarter earnings of $1.13 per share on Tuesday, which beat the analyst consensus estimate of $1.03 by 9.71%. This is a 21.51% increase over earnings of 93 cents per share from the same period last year.

The company reported quarterly sales of $9.764 billion, which beat the analyst consensus estimate of $9.7 billion by 0.66%. This is an 1.81% increase over sales of $9.59 billion the same period last year.

Best Buy raised fiscal year 2020 EPS from $5.60-$5.75 to $5.81-$5.91 versus the $5.74 estimate and narrowed sales guidance from $43.1-$43.6 billion to $43.2-$43.6 billion versus the $43.38 billion estimate.

Best Buy shares traded up 4.44% at $77.55 in Tuesday’s pre-market session. The stock has a 52-week high of $78.53 and a 52-week low of $47.72.

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