- Best Buy Co. Inc.
- 04 March 2025 13:12:56
Source: Sharecast
Best Buy said Q4 revenues had fallen from $14.64bn to $13.94bn, ahead of expectations for a bigger drop to $13.68bn, while same-store sales rose 0.5% when analysts were expecting to see a 1.5% year-on-year decline.
Net income fell from $460.0m to $117.0m in Q4, principally due to a $2.02 per share impairment charge to Best Buy Health as a result of downward revisions in the unit's long-term financial projections. Domestic revenue fell to $12.72bn, down from $13.41bn a year earlier, while international revenue slipped to $1.23bn from $1.24bn.
As far as the new year was concerned, Best Buy expects same-store sales to be slightly lower year-on-year and below the mid-point of consensus estimates for an increase 1.5% as it warned shoppers will likely remain constrained by inflation in 2025.
As of 1310 GMT, Best Buy shares were down 0.85% in pre-market trading at $86.00 each.
Reporting by Iain Gilbert at Sharecast.com