Best Buy (BBY) Q2 2025 Earnings | Wilnesh News

best buy It raised its profit guidance for the current fiscal year on Thursday after beating earnings and revenue estimates for the latest quarter.

The retailer now expects full-year adjusted earnings per share of $6.10 to $6.35, up from the previous range of $5.75 to $6.20. However, the company lowered the high end of its guidance range for full-year revenue and comparable sales.

“Looking ahead to the second half of the year, we expect our industry to continue to demonstrate increasing stability,” Best Buy Chief Financial Officer Matt Bilunas said in a company news release.

Best Buy shares rose more than 14% in premarket trading Thursday.

Here’s how this consumer electronics retailer does it: Period ended August 3 Compared with Wall Street expectations, according to a survey of analysts by London Stock Exchange Group (LSEG):

• Earnings per share: $1.34 vs expected $1.16
• income: $9.29 billion vs. $9.24 billion expected

The company reported net income of $291 million, or $1.34 a share, for the quarter, compared with $274 million, or $1.25 a share, a year earlier.

Net sales fell to $9.29 billion in the quarter from $9.58 billion in the same period last year.

Comparable sales fell 2.3% in the quarter, compared with a 6.2% decline in the same period last year.

Best Buy has been trying to turn a profit after two years of declining sales. Discretionary retailers across the board are grappling with weak consumer demand as sales surge during the coronavirus pandemic and consumers shrink from high inflation.

As the long-awaited replacement cycle of pandemic-era technology purchases begins to creep in, the retailer is looking to capitalize on marketing and operational measures. Best Buy said in July it would add highly trained sales teams to three key sections of its stores – computers, appliances and home theater – and launch a marketing campaign that includes YouTube videos to capture consumers’ attention. interest.

The company is also betting on the debut of a range of new technology products, such as those made by apple In May, artificial intelligence laptops became popular Microsoftto drive sales.

The company reported on Thursday that comparable sales in the domestic tablet and computer categories increased 6%. However, executives said the impact was “more than offset” by declines in the appliance, home theater and gaming businesses.

“We’re leveraging demand driven by customers’ desire to replace or upgrade products, combined with new innovations,” Chief Executive Coreie Barry said on the company’s earnings call. “We’re seeing consumers looking for value in sales events, And are willing to spend money on higher-priced products when needed or when new, compelling technology emerges.”

Barry said artificial intelligence is likely to continue to boost sales across categories in the coming years.

“We believe that artificial intelligence’s impact on technological innovation and customer needs has just begun,” she said.