Best Buy Co.'s stock surged 5.42% in pre-market trading on Tuesday, following the release of the company's better-than-expected fourth-quarter results. The consumer electronics retailer reported adjusted earnings per share of $2.58, outperforming analysts' estimates of $2.40. Additionally, Best Buy's enterprise revenue of $13.948 billion exceeded the projected $13.702 billion.

The strong financial performance is a testament to Best Buy's ability to navigate the challenging economic environment and meet consumer demand. The company's strategic initiatives, such as enhancing its omnichannel capabilities and expanding its product offerings, appear to be resonating with customers.

While details on the specific drivers behind Best Buy's success are limited, the positive earnings surprise suggests that the company effectively managed costs and inventory levels during the crucial holiday shopping season. As consumers continue to grapple with inflationary pressures, Best Buy's competitive pricing and robust online presence likely contributed to its solid performance.