Best Buy Co. Inc. reported on Tuesday that its revenue for the third quarter of its fiscal 2025 declined by 3% year-on-year to $9.4 billion, below expectations.
The American retailer's operating income in the reported quarter decreased by 1.13% to $350 million, while its diluted earnings per share (EPS) rose by 4.13% and stood at $1.26. The comparable sales fell by 2.9% from the same quarter in 2023. The guidance for the full year 2025 was adjusted to project revenue between $41.1 billion and $41.5 billion and comparable sales between negative 3.5% and negative 2.5%.
"We continue to see a consumer who is seeking value and sales events, and one who is also willing to spend on high price-point products when they need to or when there is new, compelling technology," CEO Corie Barry said.
The company's shares dropped by 6.48% during premarket hours after the earnings report was released and sold for $93.03 at 7:12 am ET.
