Best Buy reported better-than-expected fiscal first-quarter results, with revenue rising to $8.94 billion from $8.77 billion a year earlier and adjusted diluted earnings per share climbing to $1.28 from $1.15. Comparable sales rose 2%, reversing a prior-year decline, driven by strength in gaming, computing, mobile phones, and services, while appliances fell nearly 14%. The company's newer businesses, including Best Buy Ads and its online Marketplace, also contributed to the gains. Despite the positive results, analysts remain cautious, with an average Hold rating and a 12-month price target of $79.50 per share, as leadership changes and a muted sales outlook limit near-term upside.
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Walmart Inc.Best Buy Co. IncBest Buy reported better-than-expected Q1 results with revenue and earnings growth, driven by strength in gaming, computing, mobile phones, and services.