Best Buy Co Inc. Q3 Profit Decreases, but beats estimates

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

The company's earnings came in at $263 million, or $1.21 per share. This compares with $277 million, or $1.22 per share, in last year's third quarter.

Excluding items, Best Buy Co Inc. reported adjusted earnings of $1.29 per share for the period.

Analysts on average had expected the company to earn $1.18 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 7.8% to $9.76 billion from $10.59 billion last year.

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

-Earnings (Q3): $263 Mln. vs. $277 Mln. last year. -EPS (Q3): $1.21 vs. $1.22 last year. -Analyst Estimates: $1.18 -Revenue (Q3): $9.76 Bln vs. $10.59 Bln last year.

-Guidance: Full year EPS guidance: $6.00 - $6.30 Full year revenue guidance: $43.1 - $43.7 Bln