Best Buy Co Inc. Q2 Profit Decreases, but beats estimates

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

The company's bottom line came in at $306 million, or $1.35 per share. This compares with $734 million, or $2.90 per share, in last year's second quarter.

Excluding items, Best Buy Co Inc. reported adjusted earnings of $1.54 per share for the period.

Analysts on average had expected the company to earn $1.27 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 12.8% to $10.33 billion from $11.85 billion last year.

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

-Earnings (Q2): $306 Mln. vs. $734 Mln. last year. -EPS (Q2): $1.35 vs. $2.90 last year. -Analyst Estimates: $1.27 -Revenue (Q2): $10.33 Bln vs. $11.85 Bln last year.