RICHFIELD, Minn. — Best Buy Co. today reported fiscal second-quarter earnings of $432 million.
On a per-share basis, the company said it had profit of $1.65. Earnings, adjusted for amortization costs, came to $1.71 per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.09 per share.
The consumer electronics retailer posted revenue of $9.91 billion in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $9.84 billion.
Best Buy shares have climbed 34% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 6%. The stock has risen 71% in the past 12 months.