Best Buy Q2 Profit Rises - Quick Facts

(RTTNews) - Electronics retailer Best Buy Co., Inc. (BBY) reported that second-quarter net earnings attributable to shareholders increased to $164 million or $0.46 per share from $146 million or $0.42 per share in the prior-year quarter.

Net earnings from continuing operations increased to $164 million or $0.46 per share from $137 million or $0.39 per share in the comparable quarter last year.

Excluding certain items, adjusted net earnings from continuing operations for the quarter were $0.49 per share, compared with $0.42 per share in the year-ago quarter.

On average, 23 analysts polled by Thomson Reuters expected the company to report earnings of $0.34 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the latest second quarter rose to $8.53 billion from $8.46 billion in the same quarter last year. Analysts expected revenues of $8.29 billion.

For the third quarter of fiscal 2016, the non-GAAP continuing operations effective income tax rate is expected to be in the range of 39% to 40%, versus 38.1% last year, which could result in a negative $0.01 year-over-year non-GAAP earnings per share impact in third quarter.