Best Buy Co., Inc. (NYSE: BBY) on Thursday announced financial results for the fourth quarter of 2023, reporting a decline in revenues and adjusted earnings.
Fourth-quarter profit, adjusted for special items, decreased to $2.61 per share from $2.73 per share a year earlier. On a reported basis, the company posted a net profit of $ 495 million or $2.23 per share, compared to $626 million or $2.62 per share in the prior-year quarter.
The bottom line was negatively impacted by a 10% decrease in revenues to $14.7 billion. The company also provided guidance for fiscal 2024.
Check this space to read management/analysts’ comments on quarterly reports
“Throughout Q4 and FY23, we remained committed to balancing our near-term response to current conditions and managing well what is in our control, while also advancing our strategic initiatives and investing in areas important for our long-term performance,” said Best Buy’s CEO Corie Barry.
Prior Performance
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Most Popular
CVX Earnings: Chevron reports lower revenue and profit for Q3 2024
Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to
Key highlights from Exxon Mobil Corporation’s (XOM) Q3 2024 earnings results
Exxon Mobil Corporation (NYSE: XOM) reported its third quarter 2024 earnings results today. Total revenues and other income remained relatively flat at $90 billion compared to the same period a
AAPL Earnings: Apple Q4 2024 sales rise 6% YoY, beat estimates
Apple Inc. (NASDAQ: AAPL) reported an increase in revenues for the fourth quarter of 2024. The top line came in above estimates. The gadget giant generated revenues of $94.9 billion
