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Best Buy (BBY) Reports Q2 Earnings: What Key Metrics Have to Say
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For the quarter ended July 2023, Best Buy (BBY - Free Report) reported revenue of $9.58 billion, down 7.2% over the same period last year. EPS came in at $1.22, compared to $1.54 in the year-ago quarter.
The reported revenue represents a surprise of +0.65% over the Zacks Consensus Estimate of $9.52 billion. With the consensus EPS estimate being $1.06, the EPS surprise was +15.09%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Best Buy performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Comparable store sales - YoY change: -6.2% versus the nine-analyst average estimate of -6.95%.
Comparable store sales - Domestic - YoY change: -6.3% compared to the -7.12% average estimate based on eight analysts.
Comparable store sales - International - YoY change: -5.4% versus -5.78% estimated by seven analysts on average.
Number of stores - Domestic - Total: 969 compared to the 965 average estimate based on four analysts.
Number of stores - Domestic - Pacific Sales Stores: 20 versus 20 estimated by three analysts on average.
Number of stores - International - Canada Best Buy Stores: 128 versus 126.67 estimated by three analysts on average.
Number of stores - International - Canada Best Buy Mobile Stand-Alone Stores: 32 versus 32 estimated by three analysts on average.
Retail square footage - Domestic - Total: 36.87 Msq ft compared to the 36.83 Msq ft average estimate based on three analysts.
Retail square footage - International - Total: 3.63 Msq ft versus the three-analyst average estimate of 3.6 Msq ft.
Retail square footage - Total: 40.5 Msq ft versus the three-analyst average estimate of 40.43 Msq ft.
Geographic Revenue- Domestic: $8.89 billion versus $8.79 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -7.1% change.
Geographic Revenue- International: $693 million versus $711.70 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -8.8% change.
Shares of Best Buy have returned -10.8% over the past month versus the Zacks S&P 500 composite's -3.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Best Buy (BBY) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended July 2023, Best Buy (BBY - Free Report) reported revenue of $9.58 billion, down 7.2% over the same period last year. EPS came in at $1.22, compared to $1.54 in the year-ago quarter.
The reported revenue represents a surprise of +0.65% over the Zacks Consensus Estimate of $9.52 billion. With the consensus EPS estimate being $1.06, the EPS surprise was +15.09%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Best Buy performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Comparable store sales - YoY change: -6.2% versus the nine-analyst average estimate of -6.95%.
- Comparable store sales - Domestic - YoY change: -6.3% compared to the -7.12% average estimate based on eight analysts.
- Comparable store sales - International - YoY change: -5.4% versus -5.78% estimated by seven analysts on average.
- Number of stores - Domestic - Total: 969 compared to the 965 average estimate based on four analysts.
- Number of stores - Domestic - Pacific Sales Stores: 20 versus 20 estimated by three analysts on average.
- Number of stores - International - Canada Best Buy Stores: 128 versus 126.67 estimated by three analysts on average.
- Number of stores - International - Canada Best Buy Mobile Stand-Alone Stores: 32 versus 32 estimated by three analysts on average.
- Retail square footage - Domestic - Total: 36.87 Msq ft compared to the 36.83 Msq ft average estimate based on three analysts.
- Retail square footage - International - Total: 3.63 Msq ft versus the three-analyst average estimate of 3.6 Msq ft.
- Retail square footage - Total: 40.5 Msq ft versus the three-analyst average estimate of 40.43 Msq ft.
- Geographic Revenue- Domestic: $8.89 billion versus $8.79 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -7.1% change.
- Geographic Revenue- International: $693 million versus $711.70 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -8.8% change.
View all Key Company Metrics for Best Buy here>>>Shares of Best Buy have returned -10.8% over the past month versus the Zacks S&P 500 composite's -3.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.