Best Buy Stock Hits $81.15 in 2025 After Surpassing Q4 Sales and Earnings Expectations
Best Buy's Q4 2025 earnings and sales outperform forecasts, signaling a market rebound as consumer demand for electronics stabilizes post-pandemic.
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Highlights
- Best Buy exceeded profit and revenue predictions for fiscal Q4 2024 amid easing declines in electronics demand.
- Same-store sales fell 4.8%, a smaller drop than analyst estimates.
- CEO Corie Barry projects steady industry sales growth and stabilization throughout 2024.
Shares of Best Buy (BBY) climbed on Thursday following the retailer’s release of stronger-than-expected Q4 2024 financial results, reflecting a recovery from the pandemic-driven slump in consumer electronics purchases.
Best Buy reported earnings per share of $2.72 for the quarter ending February 3, 2024, up from $2.61 the previous year, alongside $14.65 billion in revenue, a slight 0.6% decrease. Both figures surpassed Wall Street forecasts.
Same-store sales declined by 4.8%, outperforming analysts’ projected steeper drops. International sales grew by 2.7% to $1.24 billion, partially offsetting a 0.9% decrease in domestic revenue to $13.41 billion.
CEO Corie Barry highlighted Best Buy’s strong operational performance amid challenging market conditions and anticipates a year marked by increasing sales stabilization across the consumer electronics sector.
During the COVID-19 lockdowns, Best Buy experienced a surge in sales as consumers invested in home electronics. However, demand softened as pandemic restrictions lifted, impacting recent performance.
Looking ahead, Best Buy forecasts fiscal 2025 earnings per share between $5.75 and $6.20, with revenues ranging from $41.3 billion to $42.6 billion, aligning closely with analyst expectations.
Following the earnings announcement, Best Buy shares reached their highest point since July, trading at $81.15 by 2:00 p.m. ET, after an intraday peak of $86.11.
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