Key PointsBest Buy's strong quarter shows the positive impact of rising PC demand and AI hype on the industry.Analysts have found a new reason to boost Best Buy's valuations as cash flow hits the company.EPS growth and a recent breakout on the announcement back a bullish thesis, driving short sellers away.5 stocks we like better than Amazon.comAfter a painfully slow two years of trading within a tight channel, Best Buy Company Inc. NYSE: BBY rallied by a staggering 15.5% after it reported its first quarter ...

Best Buy CEO Corie Barry told CNBC's Jim Cramer the electronics retailer is getting ready to sell a slew of new artificial intelligence-enabled personal computers."We are, as you can imagine, arming ourselves on every angle to be the single best place to come experience this across the assortment," Barry said. "So, you're going to see physical demos of all the products that you can touch and feel and play with, and importantly, you're going to see us certify and have zoned specialized associates at hundreds ...

As consumers prove more cautious about their discretionary retail spending, Best Buy is seeing shoppers hold off until sales events to make big purchases.On a call with analysts Thursday (May 30) discussing the retailer’s first-quarter fiscal 2025 earnings results, the consumer electronics retailer noted that shoppers are adjusting their purchasing behavior in response to ongoing financial pressures.“Customers remained very deal-focused and attracted to more predictable sales moments,” CEO Corie Barry said. ...

Best Buy Co., Inc. (BBY) has reported first-quarter fiscal 2025 results, wherein the bottom line beat the Zacks Consensus Estimate while the top line missed. While revenues decreased year over year, earnings improved from the year-ago period.Q1 DetailsBest Buy’s adjusted earnings of $1.20 per share beat the Zacks Consensus Estimate of $1.07. The bottom line increased 4.3% from earnings of $1.15 per share in the year-ago period. Enterprise revenues declined 6.5% from the prior fiscal year’s quarterly number ...

Key TakeawaysBest Buy reported first-quarter earnings that beat analysts' estimates as services and laptop demand helped offset slowing sales.The electronic retailer's domestic gross profit rate improved, boosted by more paid memberships.Best Buy shares surged over 10% in early trading Thursday following the release, lifting them into positive territory for the year. Shares of Best Buy (BBY) jumped over 10% in early trading Thursday after the electronics retailer beat profit forecasts on growing demand for ...

Best Buy Co., Inc. (NYSE:BBY) Q1 2025 Earnings Conference Call May 30, 2024 8:00 AM ET Company Participants Mollie O'Brien - VP, IR Corie Barry - CEO Matt Bilunas - CFO Conference Call Participants Simeon Gutman - Morgan Stanley Peter Keith - Piper Sandler Robert Ohmes - Bank of America Chris Horvers - JPMorgan Anthony Chukumba - Loop Capital Seth Basham - Wedbush Securities Jonathan Matuszewski - Jefferies Operator Ladies and gentlemen, thank you for standing by. Welcome to Best Buy's First Quarter Fiscal ...

For the quarter ended April 2024, Best Buy (BBY) reported revenue of $8.85 billion, down 6.6% over the same period last year. EPS came in at $1.20, compared to $1.15 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $8.96 billion, representing a surprise of -1.24%. The company delivered an EPS surprise of +12.15%, with the consensus EPS estimate being $1.07.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they ...

Best Buy (BBY) came out with quarterly earnings of $1.20 per share, beating the Zacks Consensus Estimate of $1.07 per share. This compares to earnings of $1.15 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 12.15%. A quarter ago, it was expected that this consumer electronics retailer would post earnings of $2.51 per share when it actually produced earnings of $2.72, delivering a surprise of 8.37%.Over the last four quarters, ...

A Best Buy store stands outside of a Brooklyn mall on August 29, 2023 in New York City.Best Buy missed Wall Street's quarterly sales expectations on Thursday as softer demand for consumer electronics persisted.The retailer beat on earnings per share, though, and stuck by its full-year forecast. It expects revenue will range from $41.3 billion to $42.6 billion for the full year. That would mark a drop from the most recently ended fiscal year, when full-year revenue totaled $43.45 billion. It said comparable ...

Financial Performance - Total revenue for Q1 FY25 was $8.847 billion, a decrease of 6.5% compared to $9.467 billion in Q1 FY24[3][22] - Net earnings for the three months ended May 4, 2024, were $246 million, slightly up from $244 million in the same period last year[26] - Net earnings for the period ending May 4, 2024, were $1,243 million, compared to $1,322 million for the previous year[36] - Operating income for the latest period was $1,575 million, compared to $1,644 million previously[36] - Adjusted operating income after tax for the latest period was $2,962 million, slightly down from $3,005 million[36] Sales and Revenue Trends - Comparable sales declined by 6.1% in Q1 FY25, with domestic comparable sales down 6.3% and international comparable sales down 3.3%[3][6][10] - Domestic segment revenue decreased by 6.3% to $8,203 million, while international segment revenue fell by 3.3% to $644 million[28] - International revenue decreased by 3.3% to $644 million, with a gross profit rate of 22.8%[10][11] - Comparable sales for the domestic segment declined by 6.3%, with online sales down by 6.1%[28] Earnings Per Share - GAAP diluted EPS increased by 2% to $1.13, while non-GAAP diluted EPS increased by 4% to $1.20[1][22] - Non-GAAP diluted EPS for the quarter was $1.20, compared to $1.15 in the same quarter last year[33] - FY25 non-GAAP diluted EPS guidance remains unchanged at a range of $5.75 to $6.20[1][5] Cost Management - Domestic SG&A expenses decreased to $1.60 billion, or 19.5% of revenue, compared to $1.71 billion, or 19.4% of revenue, last year[9] - Domestic gross profit rate improved to 23.4% from 22.6% last year, driven by better performance in services[8] - Gross profit margin for the domestic segment improved to 23.4% from 22.6% year-over-year[28] Cash Flow and Shareholder Returns - Total cash provided by operating activities was $156 million, a significant recovery from a cash usage of $331 million in the prior year[26] - Cash, cash equivalents, and restricted cash at the end of the period were $1,527 million, compared to $1,432 million a year ago[26] - The company returned $252 million to shareholders in Q1 FY25 through dividends and share repurchases[14] - The company repurchased $50 million in common stock during the quarter, down from $79 million in the previous year[26] Restructuring and Charges - The company incurred $15 million in restructuring charges in Q1 FY25 related to an enterprise-wide restructuring initiative[13] Asset Management - Total assets increased to $14,752 million as of May 4, 2024, compared to $14,688 million a year earlier[24] - Total assets decreased to $15,909 million from $16,242 million[36] - Average invested operating assets increased to $12,391 million from $12,235 million[36] - Excess cash was reported at $330 million, up from $264 million[36] Return Metrics - Return on Assets (ROA) for May 4, 2024, is 7.8%, down from 8.1% on April 29, 2023[36] - Non-GAAP Return on Investment (ROI) decreased to 23.9% from 24.6% year-over-year[36]