Best Buy Co Inc. Q4 Profit Drops, Inline With Estimates

(RTTNews) - Best Buy Co Inc. (BBY) reported a profit for fourth quarter that decreased from the same period last year in line with the Street estimates.

The company's earnings came in at $626 million, or $2.62 per share. This compares with $816 million, or $3.10 per share, in last year's fourth quarter.

Excluding items, Best Buy Co Inc. reported adjusted earnings of $2.73 per share for the period.

Analysts on average had expected the company to earn $2.73 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.4% to $16.37 billion from $16.94 billion last year.

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

-Earnings (Q4): $626 Mln. vs. $816 Mln. last year. -EPS (Q4): $2.62 vs. $3.10 last year. -Analyst Estimates: $2.73 -Revenue (Q4): $16.37 Bln vs. $16.94 Bln last year.