Best Buy (BBY) Tops Q3 EPS by 6c; Tot. Comps Growth Lagged Expectations

Best Buy (NYSE: BBY) reported Q3 EPS of $0.41, $0.06 better than the analyst estimate of $0.35. Revenue for the quarter came in at $8.82 billion versus the consensus estimate of $8.86 billion.

CEO Hubert Joly continued, “In the Domestic business, our comparable sales, excluding the impact of installment billing, increased 0.5%. Online comparable sales increased 18% as our new mobile site and overall enhanced dotcom capabilities continued to drive higher conversion rates and increased traffic. These results were achieved in a context where industry sales in the NPD-tracked categories were down 4.3%.”

Total comps rose 0.8 percent, with the consensus at 1.0 percent.

For earnings history and earnings-related data on Best Buy (BBY) click here.

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