A solid quarter at Best Buy overshadowed by outlook grown cloudy with tariffs https://t.co/IPs2tQ8ZtN https://t.co/R0NM8Qf3BN
A solid quarter at Best Buy overshadowed by outlook grown cloudy with tariffs https://t.co/qx0vvk7t42 https://t.co/DwGlGMI1k4
A solid quarter at Best Buy overshadowed by outlook grown cloudy with tariffs https://t.co/8W67lTm9xL https://t.co/uTG9b0PqNu
Best Buy posted stronger-than-expected second-quarter results, with revenue rising 1.6% year-over-year to $9.44 billion and adjusted earnings of $1.28 a share, both ahead of Wall Street estimates. Comparable sales increased 1.6%, marking the electronics retailer’s fastest growth in three years, helped by demand for Nintendo Switch 2 consoles and AI-enabled laptops. Despite the beat, the company kept its full-year forecast unchanged, projecting adjusted earnings of $6.15 to $6.30 a share, revenue of $41.1 to $41.9 billion and comparable sales ranging from a 1% decline to a 1% gain. Chief Executive Officer Corie Barry said, “We delivered comparable sales growth of 1.6% in the second quarter… given the uncertainty of potential tariff impacts in the second half, we feel it is prudent to maintain the annual guidance we provided last quarter.” Management warned that the 145% U.S. tariff on Chinese goods could squeeze margins later this year, echoing concerns voiced by other retailers. Shares fell roughly 5% as investors focused on the potential hit to profitability even as Best Buy expects third-quarter comparable sales growth to track close to the second quarter.
