Best Buy surges on earnings beat

try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Gold hands back some gains as stronger dollar weighs; Iran conflict in spotlight Oil extends surge on concerns surrounding Strait of Hormuz closure Futures drop, oil prices climb amid Iran conflict - what’s moving markets Gold price surge after Iran attack could fade, Pepperstone says FLASH SALE (South Africa Philippines Nigeria) FLASH SALE Best Buy surges on earnings beat By Author Sam Boughedda Earnings Published 03/03/2026, 07:29 AM Best Buy surges on earnings beat 0 BBY -0.61% Investing.com -- Best Buy Co., Inc. (NYSE:BBY) shares surged in premarket trading on Tuesday after reporting its fourth quarter earnings. Get instant alerts on market-moving headlines with InvestingPro The retailer posted fourth-quarter adjusted earnings per share of $2.61, beating analyst estimates of $2.47 by $0.14. However, revenue of $13.81 billion fell short of the $13.91 billion consensus and declined 1% from $13.95 billion in the prior-year quarter. Comparable sales decreased 0.8% for the quarter. The company issued fiscal 2027 guidance with adjusted EPS of $6.30 to $6.60, with a midpoint of $6.45 that falls below the analyst consensus of $6.65. Revenue guidance of $41.2 billion to $42.1 billion, with a midpoint of $41.65 billion, also came in below the $42.2 billion consensus. For the first quarter, Best Buy expects comparable sales growth of approximately 1% and an adjusted operating income rate of approximately 3.9%. Shares surged 14.1% following the results. "We are pleased to report better-than-expected profitability for the fourth quarter," said Corie Barry, Best Buy CEO. "Our comparable sales, while within our guidance range, declined 0.8% compared to last year. Our data sources show our overall market share was at least flat, pointing to slightly softer customer demand for our industry during the holiday quarter." The company's domestic segment generated revenue of $12.58 billion, down 1.1% YoY, with the largest decli...