Best Buy breaks analysts’ forecasts and jumps 9% in early trading

Best Buy breaks analysts’ forecasts and jumps 9% in early trading
Best Buy breaks analysts’ forecasts and jumps 9% in early trading

The electronic kimono company Best Buy shatters the analysts’ forecast with a profit of $1.38 per share compared to an expectation of $1.03 per share.

Best Buy’s revenues amounted to 10.59 billion dollars compared to expectations of 10.31 billion dollars.

But if we look at the annual rate, the profit decreases by 34% and revenues decrease by 11%.

CEO Cory Barry expressed optimism about the holiday shopping season starting this month.
Corey says: “We strategically and efficiently managed our inventory flow based on a shopping pattern that we believe looks more similar to historical holiday periods, when customers’ shopping activity was concentrated during the week of Black Friday, Cyber ​​Monday and the two weeks before December 25.”

Best Buy, which trades at a value of 16 billion dollars, has dropped by 24% since the beginning of the year.

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The article is Hebrew

Tags: Buy breaks analysts forecasts jumps early trading

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