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Investing.com -- Best Buy (NYSE:BBY) reported second-quarter results that topped analyst expectations and offered full-year guidance largely in line with Wall Street forecasts.
The retailer’s shares slid more than 1% in premarket trading on Thursday after the release.
Best Buy posted earnings per share (EPS) of $1.28, beating analyst estimates of $1.22, with revenue of $9.44 billion versus $9.23 billion expected.
Comparable sales rose 1.6% in the quarter.
“We delivered comparable sales growth of 1.6% in the second quarter, our highest growth in three years,” said Corie Barry, CEO of Best Buy.
“This better-than-expected sales growth was driven by a mix of new technology innovation, our relentless focus on a seamless omni-channel customer experience and our strong vendor partnerships.”
"Given the uncertainty of potential tariff impacts in the back half, both on consumers overall as well as our business, we feel it is prudent to maintain the annual guidance we provided last quarter. At this point, we do believe we are trending toward the higher end of our sales range.”
For fiscal 2026, Best Buy guided EPS to a range of $6.15 to $6.30, compared with the $6.19 consensus.
Revenue is expected between $41.1 billion and $41.9 billion, roughly in line with the $41.41 billion analyst forecast.
The company sees comparable sales ranging from a 1% decline to a 1% increase.
For the third quarter, Best Buy said it expects comparable sales growth to be similar to the 1.6% increase delivered in Q2, with the adjusted operating income rate anticipated to align with last year’s Q3 level of 3.7%.