Best Buy Exceeds Q2 Expectations, Raises Forecast

Best Buy Co., Inc. reported strong second-quarter fiscal 2025 results, surpassing both revenue and earnings expectations, which led to a significant rise in its stock price. The company posted adjusted earnings of $1.34 per share, beating the Zacks Consensus Estimate of $1.15, and revenues of $9.29 billion, surpassing the estimate of $9.23 billion. Despite a year-over-year revenue decline of 3.1% and a same-store sales drop of 2.3%, the company raised its full-year adjusted earnings forecast to a range of $6.10 to $6.35 per share. CEO Corie Barry highlighted growth in tablets, computing, and services, while noting declines in appliances, home theater, and gaming. The company anticipates the adoption of AI devices and lower interest rates to drive future growth. Investors reacted positively, with the stock soaring up to 18% at the start of regular trading.