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Best Buy (BBY) Reports Q1 Earnings: What Key Metrics Have to Say
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For the quarter ended April 2024, Best Buy (BBY - Free Report) reported revenue of $8.85 billion, down 6.6% over the same period last year. EPS came in at $1.20, compared to $1.15 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $8.96 billion, representing a surprise of -1.24%. The company delivered an EPS surprise of +12.15%, with the consensus EPS estimate being $1.07.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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:
Enterprise Comparable store sales - YoY change: -6.1% versus the nine-analyst average estimate of -4.8%.
Comparable store sales - Domestic - YoY change: -6.3% compared to the -4.9% average estimate based on eight analysts.
Comparable store sales - International - YoY change: -3.3% versus -2.9% estimated by seven analysts on average.
Number of stores - International - Total: 160 compared to the 159 average estimate based on five analysts.
Number of stores - Domestic - Pacific Sales Stores: 20 versus the four-analyst average estimate of 20.
Number of stores - International - Canada Best Buy Stores: 128 versus the four-analyst average estimate of 128.
Number of stores - International - Canada Best Buy Mobile Stand-Alone Stores: 32 versus 32 estimated by four analysts on average.
Number of stores - Domestic - U.S. Best Buy Stores: 891 versus 898 estimated by four analysts on average.
Number of stores - Domestic - Total: 957 versus 962 estimated by four analysts on average.
Number of stores - Total: 1,117 compared to the 1,122 average estimate based on four analysts.
Geographic Revenue- Domestic: $8.20 billion versus $8.34 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -6.8% change.
Geographic Revenue- International: $644 million compared to the $644.84 million average estimate based on six analysts. The reported number represents a change of -3.3% year over year.
Shares of Best Buy have returned -0.2% over the past month versus the Zacks S&P 500 composite's +3.2% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Best Buy (BBY) Reports Q1 Earnings: What Key Metrics Have to Say
For the quarter ended April 2024, Best Buy (BBY - Free Report) reported revenue of $8.85 billion, down 6.6% over the same period last year. EPS came in at $1.20, compared to $1.15 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $8.96 billion, representing a surprise of -1.24%. The company delivered an EPS surprise of +12.15%, with the consensus EPS estimate being $1.07.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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:
- Enterprise Comparable store sales - YoY change: -6.1% versus the nine-analyst average estimate of -4.8%.
- Comparable store sales - Domestic - YoY change: -6.3% compared to the -4.9% average estimate based on eight analysts.
- Comparable store sales - International - YoY change: -3.3% versus -2.9% estimated by seven analysts on average.
- Number of stores - International - Total: 160 compared to the 159 average estimate based on five analysts.
- Number of stores - Domestic - Pacific Sales Stores: 20 versus the four-analyst average estimate of 20.
- Number of stores - International - Canada Best Buy Stores: 128 versus the four-analyst average estimate of 128.
- Number of stores - International - Canada Best Buy Mobile Stand-Alone Stores: 32 versus 32 estimated by four analysts on average.
- Number of stores - Domestic - U.S. Best Buy Stores: 891 versus 898 estimated by four analysts on average.
- Number of stores - Domestic - Total: 957 versus 962 estimated by four analysts on average.
- Number of stores - Total: 1,117 compared to the 1,122 average estimate based on four analysts.
- Geographic Revenue- Domestic: $8.20 billion versus $8.34 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -6.8% change.
- Geographic Revenue- International: $644 million compared to the $644.84 million average estimate based on six analysts. The reported number represents a change of -3.3% year over year.
View all Key Company Metrics for Best Buy here>>>Shares of Best Buy have returned -0.2% over the past month versus the Zacks S&P 500 composite's +3.2% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.