Categories AlphaGraphs, Earnings, Retail
Infographic: Highlights of Best Buy’s (BBY) Q3 2021 earnings
Retail store chain Best Buy Co., Inc. (NYSE: BBY) reported stronger-than-expected earnings and revenues for the third quarter of 2021. However, the company’s stock dropped on Tuesday morning following the announcement.
During the three-month period, there was a 21% increase in revenues to $11.85 billion, which also surpassed the consensus estimates.
Consequently, adjusted earnings moved up to $2.06 per share from $1.13 per share in the third quarter of 2020. Net income, including one-off items, was $391 million or $1.48 per share, compared to $293 million or $1.10 per share in the year-ago period.
Read management/analysts’ comments on quarterly results
Shares of Best Buy maintained a steady uptrend since the beginning of the year and reached a record high this month. The stock closed the last trading session higher but declined early Tuesday soon after the earnings release.
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
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