قالب وردپرس درنا توس
Home / Business / Best Buy earnings Q2 2018 top estimates, but it expects weaker Q3

Best Buy earnings Q2 2018 top estimates, but it expects weaker Q3



Best Buy stocks fell on the previous day's advance, although the electronics retailer reported gains and sales in the second quarter outperforming analysts' expectations.

* Adjusted earnings per share: 91

cents vs. 83 cents expected
* Revenues: $ 9.38 billion versus $ 9.28 billion expected
* Same-store revenue: up 6.2% versus 3.7%

Net income was $ 244 million Dollars or 86 cents per share, compared to $ 209 million or 67 cents a year ago. Excluding disposable income, Best Buy received 91 cents, 8 cents more than the analyst forecast.

Sales climbed nearly 5 percent to $ 9.38 billion, exceeding the expected $ 9.28 billion.

12 months had increased by a total of 6.2 percent. These included sales growth of 6 percent in Germany and sales growth of 10.1 percent in the same business.

CEO Hubert Joly said sales growth is "driven by the favorable environment in which we operate and our customers' response. V3.espacenet.com/textdoc?

The electronics retailer, like its rivals, has benefited from a healthier economy across North America, which gets more money back into the pockets of buyers through increased consumer confidence and low unemployment holiday time for 2018.

Best Buy calls for the full year same-store sales are up 4.5 percent from an earlier target of up to 2 percent, and earnings per share should be between $ 4.95 and $ 5.10, Best Buy said Tuesday compared to a previous one Range from $ 4.80 to $ 5 per share.

Earlier this year, Best Buy announced it would close all 250 smaller companies to format mobile phones to focus more on its core businesses and serviceop focus on existing full-service locations. Since then he has taken several steps.

The retailer announced earlier this month that it would take over $ 800 million from GreatCall, a healthcare provider, to sell more products to an aging population.

The purchase of Best Buy will help "against the pressure on both sales growth and the margins of electronic products," said GlobalData Retail CEO Neil Saunders.

Best Buy also works with longtime rival Amazon to sell smart TVs, CNBC reported in April. Best Buy has managed to gain market share as it blocks new revenue streams that are not as dependent on product sales, including building its Geek Squad and In-Home Advisor network and expanding outside the US

Starting Monday Over the last 12 months, Best Buy shares rose 33%, bringing the company's market capitalization to approximately $ 22.8 billion.


Source link