Best Buy reported first-quarter adjusted earnings per share of $1.28, surpassing the $1.23 consensus, and sales of $8.94 billion, beating the expected $8.83 billion. The company saw a 2% rise in comparable sales driven by strength in gaming, computing, mobile phones, and services, with online sales making up 32% of domestic revenue. Gross margin improved due to marketplace and advertising initiatives, while international revenue grew 7%. Best Buy also declared a quarterly dividend of 96 cents per share and plans $300 million in share repurchases for FY27. The company reaffirmed its FY2027 outlook with adjusted EPS guidance of $6.30–$6.60 and sales guidance of $41.2–$42.1 billion, expecting continued margin improvement.
US stock futures fell as oil prices surged above $90 due to renewed US-Iran tensions and military strikes. Investors await the April Personal Consumption Expenditures (PCE) inflation report, which will influence Federal Reserve rate decisions under n...
Best Buy reported better-than-expected earnings for its first fiscal quarter, with revenue rising slightly to $8.94 billion and adjusted earnings per share of $1.28, surpassing analyst expectations. Growth was driven by strong sales in gaming, comput...
Following a recent US-China summit, tariffs have stabilized, encouraging Chinese companies like AI Speech and Zeroth to pursue US market expansion through acquisitions and local hiring. Despite eased tariffs, branding and data security concerns remai...
