Best Buy Co Inc. Q1 Profit Decreases, But Beats Estimates

(RTTNews) - Best Buy Co Inc. (BBY) released earnings for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $202 million, or $0.95 per share. This compares with $246 million, or $1.13 per share, last year.

Excluding items, Best Buy Co Inc. reported adjusted earnings of $1.15 per share for the period.

Analysts on average had expected the company to earn $1.09 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 0.9% to $8.767 billion from $8.847 billion last year.

Best Buy Co Inc. earnings at a glance (GAAP) :

-Earnings: $202 Mln. vs. $246 Mln. last year. -EPS: $0.95 vs. $1.13 last year. -Revenue: $8.767 Bln vs. $8.847 Bln last year.

-Guidance: Full year EPS guidance: $6.15 to $6.30 Full year revenue guidance: $41.1-$41.9 Bln