Retailer Best Buy reports adjusted EPS of $1.28, topping forecasts, with revenue rising to $8.94 billion and comparable sales growth of 2.0%.
Best Buy Co Inc (NYSE:BBY) shares climbed 17% after first-quarter earnings exceeded Wall Street expectations. The company posted adjusted earnings per share of $1.28, above the $1.22 estimate, while revenue reached $8.94 billion, surpassing the $8.82 billion forecast.
Comparable sales increased 2.0% year-over-year, reversing a decline in the prior-year period. Domestic comparable sales rose 1.8%, and international sales grew 4.7%. Operating income margin expanded to 4.1% from 2.5% a year earlier, with adjusted operating income margin at 4.1%.
Best Buy reaffirmed its full-year 2027 guidance, projecting revenue of $41.2 billion to $42.1 billion and adjusted diluted EPS of $6.30 to $6.60. The company noted strong performance in its Best Buy Ads and Marketplace initiatives.