Best Buy reported second-quarter revenue of $9.8 billion, surpassing analyst estimates and showing a 4% increase year-over-year. Adjusted earnings per share rose 15% to $1.47, beating expectations. The company raised its full-year revenue forecast to $42.3-$42.8 billion and increased its adjusted EPS outlook to $6.70-$6.90, reflecting strong sales and improved operating margins. For the third quarter, Best Buy expects comparable sales growth of 1%-3% and an adjusted operating income rate of 4.1%-4.2%.
Best Buy is enhancing its customer experience by launching the AI assistant Ask Blue, integrated with OpenAI to help customers find products and complete purchases via ChatGPT. The company is also expanding its physical presence with smaller-format s...
Best Buy reported better-than-expected fiscal Q2 results with 4.1% comparable sales growth and raised its full-year revenue guidance to $42.3-$42.8 billion from $41.2-$42.1 billion. Adjusted earnings per share guidance also increased to $6.70-$6.90 f...
