Best Buy Q1: EPS Beat, Comps Decline 10.1%, Unchanged FY24 Guidance & More
Portfolio Pulse from Shivani Kumaresan
Best Buy reported Q1 FY24 sales decline of 11.1% YoY to $9.47 billion, missing analyst consensus estimate of $9.52 billion. Non-GAAP EPS of $1.15 beat the analyst consensus of $1.11. The company maintained its FY24 guidance and expects a revenue of $43.8 billion - $45.2 billion.
May 25, 2023 | 3:46 pm
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Best Buy's Q1 FY24 sales declined 11.1% YoY, missing estimates, but Non-GAAP EPS beat consensus. The company maintained its FY24 guidance.
Best Buy's Q1 sales decline and missed estimates may negatively impact the stock price. However, the better-than-expected EPS and unchanged FY24 guidance could offset the negative sentiment, resulting in a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100