Best Buy Rises After Earnings Beat and CEO Transition

Best Buy had a better-than-expected quarter, but the important part is not the tiny EPS beat. It’s that comparable sales finally turned positive while margins improved. Key numbers: Adjusted EPS: $1.28 vs. $1.22 expected Revenue: $8.94B vs. $8.81B expected Revenue growth: +1.9% Enterprise comparable sales: +2.0% Domestic comps: +1.8% International comps: +4.7% Online revenue: 31.7% of domestic revenue Operating margin: 4.1% vs. 2.5% last year Adjusted operating margin: 4.1% vs. 3.8% last year FY