Best Buy Co., Inc. (NYSE: BBY) reported its earnings results for the third quarter of 2024 today.
Enterprise revenue totaled $9.7 billion compared to $10.5 billion reported in the same period last year. Comparable sales declined 6.9%.
Net earnings were $263 million, or $1.21 per share, compared to $277 million, or $1.22 per share, last year. Adjusted EPS was $1.29.
Earnings beat estimates while revenue fell short. The company also lowered its guidance for the full year.
For the fourth quarter of 2024, Best Buy expects comparable sales to decline 3-7%. For the full year of 2024, the company expects revenue of $43.1-43.7 billion and adjusted EPS of $6.00-6.30. Comparable sales for the year are expected to decline 6.0-7.5%.
The stock was down over 5% in premarket hours on Tuesday.