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.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BBY at https://www.zacks.com/ap/BBY
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