Best Buy Co Inc BBY is trading higher Tuesday after the company announced better-than-expected second-quarter financial results and issued guidance above estimates.
Best Buy reported quarterly adjusted earnings of $2.98 per share, which beat the estimate of $1.85 per share. The company reported quarterly revenue of $11.85 billion, which beat the estimate of $11.49 billion.
Best Buy expects third-quarter enterprise revenue to be in a range of $11.4 billion to $11.6 billion versus the estimate of $10.55 billion. The company expects full-year enterprise revenue to be in a range of $51 billion to $52 billion versus the estimate of $49.3 billion.
“Customer demand for technology products and services during the quarter was extraordinarily high,” said Corie Barry, CEO of Best Buy.
Price Action: Best Buy has traded as high as $128.57 and as low as $95.93 over a 52-week period.
At last check Tuesday, the stock was up 5.66% at $118.62.
Photo by Mike Mozart from Flickr.
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