Best Buy Co Q3 Adj EPS $1.29 Beats $1.19 Estimate, Sales $9.76B Miss $9.91B Estimate
Portfolio Pulse from Benzinga Newsdesk
Best Buy Co (NYSE:BBY) reported Q3 adjusted earnings per share (EPS) of $1.29, surpassing the analyst estimate of $1.19 by 8.4%. However, the company's quarterly sales of $9.76 billion fell short of the expected $9.91 billion by 1.55%. Compared to the same quarter last year, EPS decreased by 6.52% and sales dropped by 7.85%.
November 21, 2023 | 12:08 pm
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Best Buy's Q3 earnings exceeded expectations with an EPS of $1.29 against a $1.19 estimate, but sales underperformed, missing estimates by 1.55% and showing a year-over-year decline.
While Best Buy's EPS beat may provide some positive sentiment among investors, the sales miss and year-over-year declines in both EPS and sales could temper any potential stock gains. The mixed results present uncertainty, hence a neutral score is given.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100