RICHFIELD, Minn. (AP) — RICHFIELD, Minn. (AP) — Best Buy Co. (BBY) on Thursday reported fiscal first-quarter earnings of $202 million.
On a per-share basis, the Richfield, Minnesota-based company said it had profit of 95 cents. Earnings, adjusted for restructuring costs and amortization costs, came to $1.15 per share.
The results beat Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.09 per share.
The consumer electronics retailer posted revenue of $8.77 billion in the period, which met Street forecasts.
Best Buy expects full-year earnings in the range of $6.15 to $6.30 per share, with revenue in the range of $41.1 billion to $41.9 billion.
Best Buy shares have dropped 17% since the beginning of the year, while the S&P’s 500 index has stayed nearly flat. The stock has decreased slightly more than 1% 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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