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
Key highlights from Deere & Co.’s (DE) Q4 2024 earnings results
Deere & Company (NYSE: DE) reported its fourth quarter 2024 earnings results today. Worldwide net sales and revenues decreased 28% year-over-year to $11.14 billion. Net income was $1.24 billion, or
NVDA Earnings: Nvidia Q3 profit jumps, beats estimates
NVIDIA Corporation (NASDAQ: NVDA) on Wednesday reported a sharp increase in adjusted profit and revenue for the third quarter of 2025. Earnings also topped analysts' estimates. The tech firm’s revenues
Lowe’s Companies (LOW): A few points to note about the Q3 2024 performance
Shares of Lowe’s Companies, Inc. (NYSE: LOW) rose over 1% on Wednesday. The stock has gained 8% over the past three months. The company delivered better-than-expected earnings results for the