Best Buy Q1 Earnings Decline - Quick Facts

(RTTNews) - Electronics retailer Best Buy Co., Inc. (BBY) reported that first-quarter net earnings attributable to shareholders decreased to $129 million or $0.36 per share from $461 million or $1.31 per share in the prior-year quarter.

Net earnings from continuing operations plunged to $37 million or $0.10 per share from $469 million or $1.33 per share in the comparable quarter last year.

Excluding certain items, adjusted net earnings from continuing operations for the quarter were $0.37 per share, compared with $0.35 per share in the year-ago quarter.

On average, 25 analysts polled by Thomson Reuters expected the company to report earnings of $0.29 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the latest first quarter declined to $8.56 billion from $8.64 billion in the same quarter last year. Analysts expected revenues of $8.46 billion.