Best Buy Co Inc. Q4 Profit Decreases, but beats estimates

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

The company's bottom line came in at $460 million, or $2.12 per share. This compares with $495 million, or $2.23 per share, in last year's fourth quarter.

Excluding items, Best Buy Co Inc. reported adjusted earnings of $2.72 per share for the period.

Analysts on average had expected the company to earn $2.51 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.6% to $14.65 billion from $14.74 billion last year.

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

-Earnings (Q4): $460 Mln. vs. $495 Mln. last year. -EPS (Q4): $2.12 vs. $2.23 last year. -Revenue (Q4): $14.65 Bln vs. $14.74 Bln last year.