Best Buy Co Inc. Q2 Profit Increases, Beats Estimates

(RTTNews) - Best Buy Co Inc. (BBY) announced earnings for its second quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $291 million, or $1.34 per share. This compares with $274 million, or $1.25 per share, in last year's second quarter.

Excluding items, Best Buy Co Inc. reported adjusted earnings of $1.34 per share for the period.

Analysts on average had expected the company to earn $1.16 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.1% to $9.288 billion from $9.583 billion last year.

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

-Earnings (Q2): $291 Mln. vs. $274 Mln. last year. -EPS (Q2): $1.34 vs. $1.25 last year. -Revenue (Q2): $9.288 Bln vs. $9.583 Bln last year.

-Guidance: Full year EPS guidance: $6.10 - $6.35 Full year revenue guidance: $41.3 - $41.9 Bln