Best Buy (BBY) PT, Estimates Raised at Piper Jaffray on Strong Qtr & Comp
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Best Buy (BBY) Tops Q3 EPS by 7c; Comps Show Surprise Gain
November 20, 2014 7:01 AM ESTBest Buy (NYSE: BBY) reported Q3 EPS of $0.32, $0.07 better than the analyst estimate of $0.25. Revenue was $9.38 billion, versus consensus estimates of $9.11 billion.
Comps rose 2.2 percent, versus estimates calling for a drop of 2 percent.
Hubert Joly, Best Buy president and CEO, commented, "In the third quarter, our teams delivered positive comparable sales, improved profitability and continued progress in our Renew Blue transformation. This resulted in $9.4 billion in revenue and $0.32 in non-GAAP diluted earnings per share versus $0.18 last year. Operationally, this year-over-year improvement was primarily driven by 0.6% revenue growth and the... More
