Latest News by Industry
RICHFIELD, Minn. (AP) — RICHFIELD, Minn. (AP) — Best Buy Co. (BBY) on Tuesday reported fiscal third-quarter net income of $273 million.
The Richfield, Minnesota-based company said it had net income of $1.26 per share.
The results fell short of Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.30 per share.
The consumer electronics retailer posted revenue of $9.45 billion in the period, also missing Street forecasts. Ten analysts surveyed by Zacks expected $9.63 billion.
Best Buy expects full-year earnings in the range of $6.10 to $6.25 per share, with revenue in the range of $41.1 billion to $41.5 billion.
Best Buy shares have climbed 19% since the beginning of the year, while the S&P's 500 index has risen 26%. The stock has climbed 34% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BBY at https://www.zacks.com/ap/BBY