Best Buy forecasts upbeat sales on steady gadgets demand, ads and marketplace growth
The retailer posted 2% comparable-sales growth and said laptops, smartphones, ads and marketplace businesses are supporting results.
- On Thursday, Best Buy reported first-quarter earnings of $1.28 per share, beating Wall Street's $1.23 estimate while forecasting second-quarter sales above expectations amid steady smartphone and laptop demand.
- Growth in Best Buy Ads and Marketplace initiatives drove 2% comparable sales growth, with consumers continuing to prioritize replacements of gaming consoles like the Nintendo Switch and PS5.
- Reaffirming its full-year outlook, Best Buy expects revenue between $41.2 billion and $42.1 billion with adjusted earnings per share projected to range between $6.30 and $6.60.
- CEO Corie Barry announced her departure later this year, with Jason Bonfig set to assume leadership on Nov. 1 and focus on expanding higher-margin media and retail platform businesses.
- Michael Ashley Schulman, partner at Cerity Partners, said the 2026-27 window could be a "sweet spot" for AI-enabled hardware upgrades as first-generation AI PCs become more affordable.
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Dow Jumps Around 200 Points; Best Buy Posts Upbeat Q1 Results - Agape ATP (NASDAQ:ATPC), Best Buy Co (NYS
U.S. stocks traded higher this morning, with the Dow Jones index gaining around 200 points on Thursday. Following the market opening Thursday, the Dow traded up 0.07% to 50,680.67 while the NASDAQ rose 0.73% to 26,870.40. The S&P 500 also rose, gaining, 0.56% to 7,562.17. Leading and Lagging Sectors Health care shares jumped by 1.4% on Thursday. In trading on Thursday, financial stocks fell by 0.5%. Top Headline Best Buy (NYSE:BBY) reported bett…
Best Buy forecasts upbeat quarterly sales on steady gadgets demand; shares up
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