Best Buy Raises FY20 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the second quarter on Thursday, electronics retailer Best Buy Co., Inc. (BBY) raised its adjusted earnings and enterprise revenue guidance for the full-year 2020.

For fiscal 2020, the company now projects adjusted earnings in a range of $5.60 to $5.75 per share on enterprise revenue between $43.1 billion and $43.6 billion, with enterprise comparable sales growth of 0.7 to 1.7 percent.

Previously, the company expected adjusted earnings in a range of $5.45 to $5.65 per share on enterprise revenue between $42.9 billion and $43.9 billion, with enterprise comparable sales growth of 0.5 to 2.5 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $5.69 per share on revenues of $43.6 billion for the year. Analysts' estimates typically exclude special items.