The shares of Best Buy Co Inc (NYSE:BBY) are up 1.1% to trade at $85.75 this morning, after the electronics retailer received a double-upgrade from Citigroup to "buy" from "sell," with a price-target hike to $100 from $67. In the bull note, the analyst in coverage noted upside from Best Buy's earnings and valuations, with tech replacement cycles underway and new artificial intelligence (AI) innovations boosting demand.Guggenheim also chimed in today, adjusting its price objective up to $90 from $86. The maj ...

Key PointsBest Buy's strong quarter shows the positive impact of rising PC demand and AI hype on the industry.Analysts have found a new reason to boost Best Buy's valuations as cash flow hits the company.EPS growth and a recent breakout on the announcement back a bullish thesis, driving short sellers away.5 stocks we like better than Amazon.comAfter a painfully slow two years of trading within a tight channel, Best Buy Company Inc. NYSE: BBY rallied by a staggering 15.5% after it reported its first quarter ...

Best Buy CEO Corie Barry told CNBC's Jim Cramer the electronics retailer is getting ready to sell a slew of new artificial intelligence-enabled personal computers."We are, as you can imagine, arming ourselves on every angle to be the single best place to come experience this across the assortment," Barry said. "So, you're going to see physical demos of all the products that you can touch and feel and play with, and importantly, you're going to see us certify and have zoned specialized associates at hundreds ...

As consumers prove more cautious about their discretionary retail spending, Best Buy is seeing shoppers hold off until sales events to make big purchases.On a call with analysts Thursday (May 30) discussing the retailer’s first-quarter fiscal 2025 earnings results, the consumer electronics retailer noted that shoppers are adjusting their purchasing behavior in response to ongoing financial pressures.“Customers remained very deal-focused and attracted to more predictable sales moments,” CEO Corie Barry said. ...

Best Buy Co., Inc. (BBY) has reported first-quarter fiscal 2025 results, wherein the bottom line beat the Zacks Consensus Estimate while the top line missed. While revenues decreased year over year, earnings improved from the year-ago period.Q1 DetailsBest Buy’s adjusted earnings of $1.20 per share beat the Zacks Consensus Estimate of $1.07. The bottom line increased 4.3% from earnings of $1.15 per share in the year-ago period. Enterprise revenues declined 6.5% from the prior fiscal year’s quarterly number ...

Key TakeawaysBest Buy reported first-quarter earnings that beat analysts' estimates as services and laptop demand helped offset slowing sales.The electronic retailer's domestic gross profit rate improved, boosted by more paid memberships.Best Buy shares surged over 10% in early trading Thursday following the release, lifting them into positive territory for the year. Shares of Best Buy (BBY) jumped over 10% in early trading Thursday after the electronics retailer beat profit forecasts on growing demand for ...

For the quarter ended April 2024, Best Buy (BBY) reported revenue of $8.85 billion, down 6.6% over the same period last year. EPS came in at $1.20, compared to $1.15 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $8.96 billion, representing a surprise of -1.24%. The company delivered an EPS surprise of +12.15%, with the consensus EPS estimate being $1.07.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they ...

Best Buy (BBY) came out with quarterly earnings of $1.20 per share, beating the Zacks Consensus Estimate of $1.07 per share. This compares to earnings of $1.15 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 12.15%. A quarter ago, it was expected that this consumer electronics retailer would post earnings of $2.51 per share when it actually produced earnings of $2.72, delivering a surprise of 8.37%.Over the last four quarters, ...

A Best Buy store stands outside of a Brooklyn mall on August 29, 2023 in New York City.Best Buy missed Wall Street's quarterly sales expectations on Thursday as softer demand for consumer electronics persisted.The retailer beat on earnings per share, though, and stuck by its full-year forecast. It expects revenue will range from $41.3 billion to $42.6 billion for the full year. That would mark a drop from the most recently ended fiscal year, when full-year revenue totaled $43.45 billion. It said comparable ...

Exhibit 99 Best Buy Reports First Quarter Results Comparable Sales Declined 6.1% GAAP Diluted EPS Increased 2% to $1.13 Non-GAAP Diluted EPS Increased 4% to $1.20 FY25 Non-GAAP Diluted EPS Guidance Range of $5.75 to $6.20 Unchanged MINNEAPOLIS, May 30, 2024 -- Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week first quarter ended May 4, 2024 (“Q1 FY25”), as compared to the 13-week first quarter ended April 29, 2023 (“Q1 FY24”). Q1 FY25 Q1 FY24 Revenue ($ in millions) Enterprise $ 8,847 $ ...