Best Buy Co., Inc. (NYSE: BBY) on Thursday announced financial results for the second quarter of 2024, reporting a decline in revenues and adjusted earnings.
Second-quarter profit, adjusted for special items, decreased to $1.22 per share from $1.54 per share a year earlier. On a reported basis, the company posted a net profit of $274 million or $1.25 per share in Q2, compared to $306 million or $1.35 per share in the prior-year quarter.
The bottom line was negatively impacted by a 7% decrease in revenues to $9.58 billion. The company also provided guidance for fiscal 2024.
“Our financial results were better than expected, and they reflect a consumer electronics industry that remains challenged due to the pull-forward of demand in prior years and the various macroeconomic factors that we are all too familiar with,” 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 Q1 2024
Energy exploration company Chevron Corporation (NYSE: CVX) announced first-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation was $5.50 billion or
ABBV Earnings: AbbVie reports lower adj. profit for Q1 2024; revenue edges up
Specialty biopharmaceutical company AbbVie, Inc. (NYSE: ABBV) Friday announced first-quarter 2024 financial results, reporting a decline in adjusted earnings and a modest rise in revenues. The company reported worldwide net
CL Earnings: Key quarterly highlights from Colgate-Palmolive’s Q1 2024 financial results
Colgate-Palmolive Company (NYSE: CL) reported first quarter 2024 earnings results today. Net sales increased 6.2% year-over-year to $5.06 billion. Organic sales increased 9.8%. Net income attributable to Colgate-Palmolive Company was
