Best Buy: Q1 EPS down 27%
(CercleFinance.com) - Best Buy has reported Q1 adjusted EPS that is down nearly 27% to $1.
15, with an adjusted operating margin that fell 1.2% to 3.4%, on revenues of $9.47 billion, down 10.1% on a comparable basis.
Customers are clearly cautious in their decisions as they continue to face high inflation and low confidence, due to many factors, the consumer electronics chain said.
For the current fiscal year, Best Buy confirms that it expects adjusted EPS of $5.70 to $6.50, an adjusted operating margin of 3.7% to 4.1% and revenues of 43.8 to 45.2 billion dollars (down 3% to 6% in comparable terms).
Strangely enough the share is up 5% in pre-market trading today.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
15, with an adjusted operating margin that fell 1.2% to 3.4%, on revenues of $9.47 billion, down 10.1% on a comparable basis.
Customers are clearly cautious in their decisions as they continue to face high inflation and low confidence, due to many factors, the consumer electronics chain said.
For the current fiscal year, Best Buy confirms that it expects adjusted EPS of $5.70 to $6.50, an adjusted operating margin of 3.7% to 4.1% and revenues of 43.8 to 45.2 billion dollars (down 3% to 6% in comparable terms).
Strangely enough the share is up 5% in pre-market trading today.
Copyright (c) 2023 CercleFinance.com. All rights reserved.