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<p class="has-drop-cap">Best Buy Co., Inc. (NYSE: BBY) reported its <a href="https://investors.bestbuy.com/investor-relations/news-and-events/financial-releases/news-details/2024/Best-Buy-Reports-Second-Quarter-Results/default.aspx" target="_blank" aria-label="second-quarter results for the fiscal year 2025 (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">second-quarter results for the fiscal year 2025</a>, revealing a mixed performance. The company’s revenue for the quarter stood at $9.29 billion, a 3.1% decline from $9.58 billion in the same period last year. This decrease was primarily driven by a 2.3% drop in comparable sales.</p> 
<p>The domestic segment, which constitutes a significant portion of Best Buy’s operations, saw a 3.0% decrease in revenue, totaling $8.62 billion. The international segment also experienced a decline, with revenue falling by 4.0% to $665 million. Despite the revenue decline, Best Buy’s profitability showed improvement. The GAAP operating income rose to 4.1% of revenue from 3.6% in the previous year. The non-GAAP operating income also increased to 4.1% from 3.8%.</p> 
<p>The company’s GAAP diluted <a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="dofollow" class="deco-link">earnings per share (EPS)</a> increased by 7% to $1.34, while non-GAAP diluted EPS saw a 10% increase, also reaching $1.34. This improvement in profitability was attributed to better performance in the Domestic tablet and computing categories, which posted a 6% growth in comparable sales.</p> 
<h3 id="best-buy-exceeds-q2-expectations-with-1-34-eps">Best Buy Exceeds Q2 Expectations with $1.34 EPS</h3> 
<p>When comparing Best Buy’s Q2 performance against market expectations, the results were somewhat mixed but leaned towards the positive. Analysts had projected an EPS of $1.16, and Best Buy exceeded this expectation with an actual EPS of $1.34. This marks a significant beat, highlighting the company’s effective cost management and operational efficiencies.</p> 
<p>However, the revenue fell short of the expected $9.24 billion, coming in slightly higher at $9.29 billion. Although this represents a year-over-year decline, it was still above the anticipated figure, suggesting that the company managed to mitigate some of the adverse market conditions.The comparable sales decline of 2.3% was notably better than the previous year’s 6.2% drop, indicating a stabilization in sales performance.</p> 
<p>The domestic segment mirrored this trend with a 2.3% decline, compared to a 6.3% drop last year. The international segment also showed improvement, with a 1.8% decline in comparable sales versus a 5.4% decline in the previous year. These figures suggest that while the company is still facing challenges, it is managing them more effectively than in the past.</p> 
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<h3 id="best-buy-ups-guidance-for-fiscal-year-2025">Best Buy Ups Guidance for Fiscal Year 2025</h3> 
<p>Best Buy has updated its financial guidance for the fiscal year 2025. The company now expects annual comparable sales to decline by 1.5% to 3.0%, which is an improvement from the previous guidance range of a 3.0% decline to flat sales.</p> 
<p>This revision indicates a more optimistic outlook for the remaining half of the year. Best Buy has also raised its non-GAAP diluted EPS guidance range to $6.10 to $6.35, up from the previous range of $5.75 to $6.20, reflecting the better-than-expected profitability in the first half of the year. For the third quarter of FY25, Best Buy anticipates a comparable sales decline of approximately 1.0% and a non-GAAP operating income rate of around 3.7%.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em><br></p> 
<h3 id="br"><br></h3> 
<p>The post <a rel="nofollow" href="https://tokenist.com/best-buy-reports-better-than-expected-fiscal-q2-with-1-34-eps/">Best Buy Reports Better-than-Expected Fiscal Q2 with $1.34 EPS</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Best Buy Reports Better-than-Expected Fiscal Q2 with $1.34 EPS

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