Earnings

Best Buy (BBY) Q3 2022 earnings beat

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Customers wait outside of a Best Buy store in downtown Toronto, Ontario on November 23, 2020 to pick up their online orders.

Geoff Robbins | AFP | Getty Images

Best Buy‘s fiscal third-quarter earnings beat estimates on Tuesday, yet shares tumbled as investors worried about rising shipping costs and weaker demand for consumer electronics.

Shares fell more than 15% early Tuesday.

Here’s what the company did for its fiscal third quarter ended Oct. 30 compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

  • Earnings per share: $2.08 adjusted vs. $1.91 expected
  • Revenue: $11.91 billion vs. $11.58 billion expected

The consumer electronics retailer has seen sales jump…



Source cnbc.com

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