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

(RTTNews) - Best Buy Co Inc. (BBY) released a profit for second quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $274 million, or $1.25 per share. This compares with $306 million, or $1.35 per share, in last year's second quarter.

Excluding items, Best Buy Co Inc. reported adjusted earnings of $1.22 per share for the period.

Analysts on average had expected the company to earn $1.06 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 7.3% to $9.58 billion from $10.33 billion last year.

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

-Earnings (Q2): $274 Mln. vs. $306 Mln. last year. -EPS (Q2): $1.25 vs. $1.35 last year. -Analyst Estimates: $1.06 -Revenue (Q2): $9.58 Bln vs. $10.33 Bln last year.

-Guidance: Full year EPS guidance: $6.00 - $6.40 Full year revenue guidance: $43.8 - $44.5 Bln