Investing.com - Best Buy reported on Thursday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Best Buy announced earnings per share of $0.67 on revenue of $8.56B. Analysts polled by Investing.com anticipated EPS of $0.57 on revenue of $8.33B. That with comparison to EPS of $1.02 on revenue of $9.14B in the same period a year before.Best Buy had reported EPS of $2.9 on revenue of $15.2B in the previous quarter.Analysts are expecting EPS of $0.52 and revenue of $8.17B in the upcoming quarter.
Best Buy shares are down 7% from the beginning of the year and are trading at $81.54 , down-from-52-week-high.They are outperforming the S&P 500 which is down 8.42% year to date.
Best Buy follows other major Services sector earnings this month
Best Buy's report follows an earnings missed by Amazon.com on Thursday, April 30, 2020, who reported EPS of $5.01 on revenue of $75.45B, compared to forecasts EPS of $6.16 on revenue of $73.74B.
Visa A had beat expectations on Thursday, April 30, 2020 with second quarter EPS of $1.39 on revenue of $5.85B, compared to forecast for EPS of $1.34 on revenue of $5.72B.
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