Best Buy shares tumbled 4.3% this morning even after the company reported better-than-expected fiscal Q2 2027 results and raised its full-year guidance. The retailer posted pro forma earnings of $1.47 per share on sales of $9.8 billion, surpassing analyst estimates of $1.35 per share and $9.5 billion. Same-store sales rose 4.1%, while total sales grew 3.6% and pro forma profits jumped 15% year over year. The only weak spot was a 4.2% decline in international sales, which was more than offset by strength elsewhere. Management now forecasts fiscal 2027 sales of about $42.5 billion and pro forma earnings between $6.70 and $6.90 per share, both above Wall Street expectations. The stock's decline may reflect profit-taking after a strong run, but the fundamentals remain solid.
Best Buy Co. IncStock fell 4.3% despite beating estimates and raising guidance, likely profit-taking.
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