Best Buy Provides Annual Guidance Below Consensus Estimate - Update

(RTTNews) - Best Buy Co., Inc. (BBY) on Thursday provided full-year revenue as well earnings outlook, that come in below analysts' view.

Best Buy expects earnings per share for the full year to be in the range of $8.85-$9.15. On average, 23 analysts polled by Thomson Reuters expect the company to report earnings of $9.16 per share. Analysts' estimates typically exclude one-time items.

Revenue for the full year is expected between $49.3 billion and $50.8 billion. The consensus estimate stands at $51.05 billion.

Comparable sales is expected to decline 1%-4%.

Further, looking forward to fiscal year 2025, the company sees enterprise revenue of $53.5 billion to $56.5 billion.

For the fourth quarter, Best Buy reported a profit 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, it reported adjusted earnings of $2.73 per share for the period.

Analysts on average had expected the company to earn $2.73 per share.