Best Buy Reports Mixed Results with Sales Decline
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 03 2026
0mins
Should l Buy BBY?
Source: CNBC
- Financial Highlights: Best Buy's report reveals a holiday quarter sales decline to $13.81 billion, missing the $13.88 billion expectation, yet adjusted earnings per share of $2.61 exceeded the forecast of $2.47, indicating improved profitability.
- Annual Outlook: The company anticipates fiscal year 2024 revenue between $41.2 billion and $42.1 billion, slightly lower than the $41.69 billion reported for fiscal year 2023, with adjusted earnings per share projected at $6.30 to $6.60, reflecting a cautious outlook on future market conditions.
- Sales Trends: Although comparable sales fell by 0.8% in the fourth quarter, growth in computing and mobile phone sales partially offset declines in appliances and home theaters, indicating persistent consumer demand for certain electronics.
- Advertising Business Growth: Best Buy has successfully pivoted to more profitable ventures by increasing ad sales and expanding its third-party marketplace, with the number of advertising partners nearly doubling and a significant increase in product offerings, showcasing positive progress in diversifying revenue streams.
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Analyst Views on BBY
Wall Street analysts forecast BBY stock price to rise
12 Analyst Rating
4 Buy
7 Hold
1 Sell
Hold
Current: 64.310
Low
60.00
Averages
79.75
High
96.00
Current: 64.310
Low
60.00
Averages
79.75
High
96.00
About BBY
Best Buy Co., Inc. is engaged in personalizing and humanizing technology solutions. The Company has two segments: Domestic and International. The Domestic segment comprises its operations in all states, districts and territories of the United States and its Best Buy Health business and includes the brand names Best Buy, Best Buy Ads, Best Buy Business, Best Buy Essentials, Best Buy Health, Geek Squad, Imagine That, Insignia, Lively, My Best Buy, My Best Buy Memberships, Pacific Kitchen and Home, TechLiquidators and Yardbird; and the domain names bestbuy.com, lively.com, techliquidators.com and yardbird.com. The International segment comprises all its operations in Canada under the brand names Best Buy, Best Buy Express, Best Buy Mobile, Geek Squad and TechLiquidators and the domain names bestbuy.ca and techliquidators.ca. The Company’s product categories include computing and mobile phones, consumer electronics, appliances, entertainment, services and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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