Scalper1 News
Consumer electronics retailer Best Buy (BBY) made investors happy Tuesday with better-than-expected quarterly profit, higher dividends and a plan to spend $1 billion over three years to buy back shares. Best Buy stock was up 1% in midday trading on the stock market today, near 39. Earlier, Best Buy stock rose as much as 3.3%. The Richfield, Minn.-based company earned $1.48 a share excluding items, up 19% from the year-earlier quarter, for its fiscal Q4 ended Jan. 31. Analysts polled by Thomson Reuters were expecting earnings per share ex items of $1.35. On a GAAP basis, EPS was $1.46, vs. Wall Street’s target of $1.34. Sales fell nearly 2% to $14.21 billion. Wall Street was hoping for Q4 sales of $14.35 billion. U.S. same-store sales rose 2.8%, but international same-store sales fell 4%. Online sales rose 9.7%. Strong sales of large-screen televisions and mobile phones fueled… Scalper1 News
Scalper1 News