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Best Buy raises full-year profit guidance after earnings and revenue beat

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Best Buy now expects to see full-year adjusted earnings per share in the range of $6.10 to $6.35, up from a prior range of $5.75 to $6.20.

Best Buy raised its fiscal-year profit guidance Thursday after exceeding earnings and revenue expectations for the most recent quarter.

"As we look to the back half of the year, we expect our industry to continue to show increasing stabilization," Best Buy CFO Matt Bilunas said in the company's press release.Here's how the consumer electronics retailer did for the period ended August 3 compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:The company reported net income for the quarter of $291 million, or $1.34 per share, compared with $274 million, or $1.

 

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