Earnings

Best Buy (BBY) earnings Q1 2023

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Customers shop at a Best Buy store on August 24, 2021 in Chicago, Illinois. Best Buy reported an increase in second-quarter sales of nearly 20% as consumers purchased electronics to adjust to lifestyle changes related to the ongoing pandemic.

Scott Olson | Getty Images

Best Buy on Tuesday beat Wall Street’s revenue estimates for the fiscal first quarter even as customers faced high levels of inflation and the company lapped a year-ago period fueled by Covid stimulus.

Shares fell more than 3% in premarket trading after rising about 9% earlier.

Here’s how the retailer did in the three-month period ended April 30 compared with what Wall Street was anticipating, according to a survey of analysts…



Source cnbc.com

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