Categories AlphaGraphs, Earnings, Retail

Best Buy (BBY) tops Q2 FY21 targets, projects higher year-over-year sales in Q3

Best Buy’s (NYSE: BBY) earnings and revenue for the second quarter of 2021 topped the market’s estimates. The retailer also projected higher sales in Q3 compared to the prior year. However, BBY stock dropped about 3% in the pre-market trading session.

Best Buy (BBY) Q2 2021 Earnings Infograph

Non-GAAP EPS Increased 58% year-over-year to $1.71 and GAAP EPS increased 85% to $1.65. Enterprise sales rose 4% to $9.91 billion in the second quarter with comparable sales growth of 5.8%.

Best Buy CFO Matt Bilunas said, “As a result of the ongoing uncertainty, we are not providing financial guidance today. However, I would note that we are planning for Q3 sales to be higher compared to last year but likely will not continue at the current quarter-to-date level of approximately 20% growth. Also, as our stores are fully reopened, we are planning for Q3 SG&A expense to be more in line with last year’s third quarter.”

Most Popular

Does Unity Software (U) stock has more room to run?

Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a

PepsiCo (PEP): Steady snacking habits amid pandemic drive strong quarter for beverage giant

PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the

Does the virus-driven boom make Electronic Arts (EA) a good investment?

With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,

Leave a Reply

Your email address will not be published. Required fields are marked *

Add Comment
Loading...

Cancel
Viewing Highlight
Loading...
Highlight
Close
Top