Piper Jaffray Downgrades Best Buy (BBY) to Neutral
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Best Buy (BBY) Tops Q4 EPS Views; Issues Light Q1 Outlook; Announces New Capital Return Program
February 25, 2016 7:00 AM EST(Updated - February 25, 2016 7:03 AM EST)
Best Buy (NYSE: BBY) reported Q4 EPS of $1.53, versus the analyst estimate of $1.39. Revenue for the quarter came in at $13.6 billion versus the consensus estimate of $13.61 billion.
Domestic comps rose 13.7 percent, from a 9.7 percent gain in the same period last year.
Hubert Joly, Best Buy chairman and CEO, commented, In the fourth quarter, we delivered Enterprise revenue of $13.62 billion, improved our non-GAAP operating income rate by 10 basis points to 5.9% and delivered a better-than-expected non-GAAP EPS of $1.53 versus $1.48 last year. In our Domestic business, we exceeded our... More
