Best Buy Co. Inc.'s stock jumped 2.8% early Tuesday, after the electronics retailer blew past estimates for the fourth quarter and raised its quarterly dividend by 1%.
Minneapolis-based Best Buy $(BBY)$ had per-share earnings of 54 cents for the quarter, down from $2.12 a year ago. Adjusted for one-time items, EPS came to $2.58, well ahead of the $2.40 FactSet consensus.
Revenue fell to $13.948 billion from $14.646 billion a year ago, but also beat the $13.680 billion FactSet consensus.
Same-store sales rose 0.5%, while FactSet was expecting a 1.5% decline.
Chief Executive Corie Barry said the company is expecting to build on the momentum created in 2024 to ""bring our FY26 strategy to life while we continue to navigate uncertain circumstances."
(This is a breaking news story. Check back for updates)
-Ciara Linnane
For more from MarketWatch: http://www.marketwatch.com/newsviewer
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
March 04, 2025 07:07 ET (12:07 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.