Best Buy (NYSE:BBY) earnings for the electronics retailer’s fourth quarter of fiscal 2020 have BBY stock down on Thursday. This is despite it reporting adjusted earnings per share (EPS) of $2.90, which beats out Wall Street’s estimates of $2.75. Its revenue of $15.2 billion also comes in above analysts’ estimates of $15.05 billion.
Now, let’s take a more in-depth look at the most recent Best Buy earnings report.
- Adjusted EPS for the quarter comes in 6.62% higher than the $2.72 from the same time last year.
- Revenue is sitting up 2.7% compared to $14.8 billion during the fourth quarter of fiscal 2019.
- Operating income of $967 million is a 1.12% drop year-over-year from $978 million.
- The Best Buy earnings report also includes a net income of $745 million.
- That’s a 1.36% increase over its net income of $735 million in the same period of the year prior.
Corie Barry, CEO of Best Buy, said this about the BBY stock earnings:
“We are posting our 12th straight quarter of comparable sales growth and showing our strength as a successful multi-channel retailer who can meet customers when and where they want. We offered compelling holiday deals that resonated with customers and provided a seamless shopping experience, great inventory availability and fast and free delivery.”
The Best Buy earnings report also includes its fiscal 2021 guidance. This has it expecting adjusted EPS of $6.10 to $6.30 on revenue of $43.3 billion to $44.3 billion. For comparison, Wall Street is estimating adjusted EPS of $6.25 on revenue of $44.22 billion during the year.
BBY stock was down 4.22% as of Thursday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
