Best Buy: Q4 beats consensus
(CercleFinance.com) - Best Buy has posted adjusted EPS for the last three months of the past fiscal year that is up 7% at 2.
90 dollars, more than 15 cents above the consensus, despite a 0.2 point drop in its adjusted operating margin to 6.5%.
The consumer electronics retailer saw its revenues increase by 2.7% to 15.2 billion dollars. On a comparable basis, they increased by 3.2%, in particular driven by an 18.7% increase in online sales in the United States.
With an annual adjusted EPS of 6.07 dollars, higher than its last target range (5.81-5.91 dollars), Best Buy now expects EPS of between 6.10 dollars and 6.30 dollars for the new fiscal year. In addition, the group has raised its quarterly dividend by 10% to 55 cents per share.
Copyright (c) 2020 CercleFinance.com. All rights reserved.