Inside BBY’s Earnings
Best Buy reported earnings of $519 million, or $1.46 per share, up from $293 million, or 83 cents per share, a year ago. Adjusted EPS came in at $1.47 and beat analysts’ view of $1.35.
Sales rose $14.21 billion from $14.03 billion. Analysts expected to see revenue of $14.35 billion. Comparable store sales increased 2%, compared to a 1.3% decline last year.
Buy Backs and Dividends
Dividend investors were rewarded as well. The retailer boosted its dividend 21% from 19 cents to 23 per share – boosting its yield to approximately 2.4%. Shareholders will also be receiving a special dividend of 51 cents.
Mutual Funds to Watch
|FLPSX||Fidelity® Low-Priced Stock||9.58%|
|FGLLX||Fidelity Series Intrinsic Oppos||1.79%|
|VMCIX||Vanguard Mid Cap||1.54%|
The Bottom Line
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