Recap: Best Buy Co Q3 Earnings
Portfolio Pulse from Benzinga Insights
Best Buy Co (NYSE:BBY) reported Q3 earnings with an EPS of $1.29, beating estimates by 8.4% but with a revenue decrease of $831 million from the same period last year. The company's past earnings performance shows a mixed track record, with both beats and misses on EPS and revenue estimates.
November 21, 2023 | 12:10 pm
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NEUTRAL IMPACT
Best Buy Co reported higher-than-expected Q3 EPS at $1.29, beating estimates by 8.4%, but saw a significant revenue decline from the previous year. Historical data shows a 1.3% drop in share price following last quarter's earnings beat.
While the EPS beat could be seen as positive, the significant revenue decline may raise concerns among investors about the company's growth prospects. Historical performance indicates that even with an EPS beat, the stock price may not necessarily rise. The mixed signals suggest a neutral short-term impact.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100