Best Buy: Q2 Earnings Insights

Shares of Best Buy Co BBY fell 2% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share increased 58.33% over the past year to $1.71, which beat the estimate of $1.08.

Revenue of $9,910,000,000 higher by 3.92% year over year, which beat the estimate of $9,710,000,000.

Looking Ahead

Best Buy Co hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Details Of The Call

Date: Aug 25, 2020

Time: 08:00 AM

ET Webcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=http%3A%2F%2Finvestors.bestbuy.com%2Finvestor-relations%2Foverview%2Fdefault.aspx&eventid=2403375&sessionid=1&key=6242472FD70646014617574928E5B44E&regTag=&sourcepage=register

Price Action

52-week high: $119.48

Company's 52-week low was at $48.10

Price action over last quarter: Up 53.54%

Company Description

Best Buy is one of the largest consumer electronics retailers in the U.S., with product and service sales representing 9.3% of the $450 billion-plus in personal consumer electronics and appliances expenditures in 2019 based on estimates from the U.S. Bureau of Economic Analysis. The company is focused on accelerating online sales growth, improving its multichannel customer experience, launching new in-store and in-home service offerings, optimizing its U.S., Canada, and Mexico retail store square footage, lowering cost of goods sold through supply-chain efficiencies, and reducing selling, general, and administrative costs.