Best Buy reported second-quarter earnings that exceeded analyst expectations, driven by stronger-than-projected revenue growth in the U.S. retail segment.
The consumer electronics retailer posted adjusted earnings per share of $1.47 for the quarter ended August 27, exceeding the consensus estimate of $1.35 by $0.12. Revenue totaled $9.78 billion, up 2.5% from the same period last year and surpassing the $9.54 billion forecast.
For the full fiscal year 2027, Best Buy raised its earnings guidance to a range of $6.70 to $6.90 per share, compared with the analyst consensus of $6.62. The company also increased its revenue outlook to $42.30 billion to $42.80 billion, above the $42.12 billion estimate.
Best Buy’s shares closed at $87.44, up 12.17% over the past three months and 20.34% year-over-year. Over the last 90 days, 15 analysts revised earnings estimates upward while four issued downward revisions.
The company’s financial health was rated as "good performance" by InvestingPro, reflecting its ability to outperform market expectations in a competitive retail environment.
