Best Buy: Fiscal Q4 Earnings Snapshot

RICHFIELD, Minn. (AP) — RICHFIELD, Minn. (AP) — Best Buy Co. (BBY) on Thursday reported fiscal fourth-quarter profit of $495 million.

The Richfield, Minnesota-based company said it had profit of $2.23 per share. Earnings, adjusted for restructuring costs and amortization costs, came to $2.61 per share.

The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $2.09 per share.

The consumer electronics retailer posted revenue of $14.74 billion in the period, which missed Street forecasts. Eleven analysts surveyed by Zacks expected $14.75 billion.

For the year, the company reported profit of $1.42 billion, or $6.29 per share. Revenue was reported as $46.3 billion.

Best Buy expects full-year earnings in the range of $5.70 to $6.50 per share, with revenue in the range of $43.8 billion to $45.2 billion.

Best Buy shares have increased almost 3% since the beginning of the year, while the S&P’s 500 index has increased almost 3%. The stock has decreased 15% in the last 12 months.


This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on BBY at

Copyright © 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.

More from WTOP

Log in to your WTOP account for notifications and alerts customized for you.

Sign up