The consumer electronics retailer Best Buy Co. (BBY) posted strong fiscal first-quarter 2022 results. Following the results, shares rose 1% on May 27 to close at $118.14. Adjusted earnings in Q1 grew substantially by 233% to $2.23 per share on a year-over-year basis and came in above the consensus estimate of $1.37 per share.  Total sales of $11.64 billion climbed 35.9% from the year-ago period. Analysts were expecting revenues of $10.34 billion. Segment-wise, domestic revenue increased 37% year-over-year, while international revenues increased 23% from the year-ago period. Markedly, Enterprise comparable sales increased 37.2%.
https://www.tipranks.com/news/best-buy-posts-233-earnings-growth-in-q1-raises-fy22-guidance
Best Buy (NYSE:BBY)
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