Best Buy Co. Inc. said Thursday that its first-quarter revenue for fiscal 2025 came in at $8.85 billion, slightly missing expectations and dropping 6.6% year-over-year. The company's diluted earnings per share (EPS) stood at $1.13, increasing by 2% compared to the same period last year. Net earnings arrived at $246 million, growing 0.8% annually, while operating income was $312 million, improving 0.3%. Comparable sales and comparable online sales declined 6.3% and 6.1%, respectively.
For the 2025 guidance, the company expects its revenue to reach $41.3 billion to $42.6 billion, while comparable sales are expected to drop 3%.
"Today we are reporting better-than-expected Q1 profitability [...] Through strong execution, we continued to manage our profitability while at the same time preparing for future growth. We made progress on our FY25 priorities, grew our paid membership base and drove improvements in our customer experiences," CEO Corie Barry said. The company's shares increased 1.39% to sell at $72.90 during the premarket trading in New York.
