Here is Why Best Buy (BBY) Rally Today


Best Buy reported today earnings results that beat the market consensus both in the top and bottom lines.

Here are the key points:

Best Buy reported adjusted EPS of $1.38 beating the analyst’s estimates of $1.03.

BBY revenue came at $10.59 billion above the market expectations of $10.31 billion.

Same-store sales dropped 10.4%, the forecasts were for a drop of 12.9%.

Net income dropped to $277 million, or $1.22 per share, from $499 million, or $2 per share, in the third quarter of 2021.

As of writing Best Buy stock is trading 11.48% higher at $78.96.

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