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Best Buy: Fiscal 1Q Earnings Snapshot

Added 05-23-19 09:04:01am EST - “Best Buy Co. (BBY) on Thursday reported fiscal first-quarter earnings of $265 million.” - Foxbusiness.com

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Posted By TheNewsCommenter: From Foxbusiness.com: “Best Buy: Fiscal 1Q Earnings Snapshot”. Below is an excerpt from the article.

The Richfield, Minnesota-based company said it had net income of 98 cents per share. Earnings, adjusted for amortization costs, came to $1.02 per share.

The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 88 cents per share.

The consumer electronics retailer posted revenue of $9.14 billion in the period, which met Street forecasts.

For the current quarter ending in August, Best Buy expects its per-share earnings to range from 95 cents to $1.

Best Buy shares have climbed 31% since the beginning of the year, while the Standard & Poor's 500 index has risen 14%. The stock has fallen slightly more than 8% in the last 12 months.

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