Best Buy earnings for its fiscal fourth quarter of 2019 have BBY stock flying high on Wednesday.
Best Buy (NYSE:BBY) starts off its earnings report for its fiscal fourth quarter of the year with earnings per share of $2.72. This is better than the company’s earnings per share of $2.42 reported in its fiscal fourth quarter of 2018. It was also a blessing to BBY stock by blowing past Wall Street’s earnings per share estimate of $2.57 for the period.
The Best Buy earnings report for its fiscal fourth quarter of 2019 also includes net income of $735 million. This is an increase over the company’s net income of $364 million reported in the same period of the year prior.
Operating income reported in the Best Buy earnings release for its fiscal fourth quarter of the year comes in at $978 million. The electronics retailer reported operating income of $872 million for its fiscal fourth quarter of the previous year.
Best Buy earnings for its fiscal fourth quarter of 2019 also have it reporting revenue of $14.80 billion. This is a drop from the company’s revenue of $15.36 billion reported during the same time last year. However, it was still good news for BBY stock by coming in above analysts’ revenue estimate of $14.70 billion for the quarter.
The Best Buy earnings report for the fourth quarter also includes its outlook for the fiscal full year of 2020. This includes the company expecting earnings per share for the year to range from $5.45 to $5.65. Wall Street is looking for BBY to report earnings per share of $5.49 in fiscal 2020.
BBY stock was up 16% as of noon Wednesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.