Electronic retailer Best Buy (BBY) released its third quarter financial results before the opening bell on Thursday. The company reported significantly higher earnings, which came in above analysts’ estimates. Below, we look at BBY’s earnings and discuss what mutual fund investors should know about the results.
Inside Best Buy's Q3 Results
Best Buy reported earnings of $107 million, or 30 cents per share, up from $54 million, or 16 cents per share, last year. Analysts expected to see earnings of 25 cents per share.
Revenue increased to $9.38 billion from $9.36 billion a year ago. Analysts expected to see revenue of $9.11 billion.
Looking ahead, the company expects the fourth quarter to be flat from last year’s Q4. The company previously reported that it expected a sales decline in the low-single digits.
Mutual Funds to Watch
For investors seeking exposure to Best Buy (BBY) without purchasing the stock, the mutual funds below may be considered. The three funds mentioned currently hold the largest stake in the company.
|FLPSX||Fidelity Low-Priced Stock||9.85%|
|FGLLX||Fidelity Series Intrinsic||1.79%|
|VMCIX||Vanguard Mid Cap Index||1.37%|
The Bottom Line
The mutual funds mentioned above give investors a diversified bundle of securities. These funds offer investors exposure to a number of industries. While there are a number of holdings in these funds, big events such as earnings reports are very important for investors to be aware of. Investors interested in Best Buy may also be interested in stocks like Target (TGT), Wal-Mart (WMT) and Amazon (AMZN).