Best Buy Co Inc. Q3 Profit Increases, But Misses Estimates

(RTTNews) - Best Buy Co Inc. (BBY) released a profit for its third quarter that increased from last year but missed the Street estimates.

The company's earnings totaled $273 million, or $1.26 per share. This compares with $263 million, or $1.21 per share, in last year's third quarter.

Excluding items, Best Buy Co Inc. reported adjusted earnings of $1.26 per share for the period.

Analysts on average had expected the company to earn $1.29 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.2% to $9.445 billion from $9.756 billion last year.

Best Buy Co Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $273 Mln. vs. $263 Mln. last year. -EPS (Q3): $1.26 vs. $1.21 last year. -Revenue (Q3): $9.445 Bln vs. $9.756 Bln last year.

-Guidance: Full year EPS guidance: $6.10 - $6.25 Full year revenue guidance: $41.1 - $41.5 Bln