One of the largest technology products retailers impressed markets with its quarterly figures
Buy reported fiscal Q2 2022 adjusted earnings per share of $2.98 on
revenues of $11.85 billion earlier today. Both figures came ahead of an EPS of
$1.85 on revenues of $11.49 billion consensus. The retailer’s sales were up
nearly 20% as consumers upgraded devices and equipment and embraced habits
formed over a year ago (from hybrid work to streaming TV shows). According to
CEO Corie Barry, “there has been a dramatic and structural increase in the need
For the second half of fiscal 2022, Best Buy expects the
same-store sales to range from flat to down 3% compared to the year-ago
Following the news, Best Buy was up 4%. As of the latest
close, Best Buy stock price is up 12% since the beginning of the year.
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