Best Buy Q3 revenue $9.76B down 7.8% YoY; lowers FY24 revenue and comp guidance

BEST BUY CO INC

2024-Q3 EPS reported $3.57 revenue$28,806,000,000

GAAP diluted EPS $1.21; non-GAAP diluted EPS $1.29, both down from $1.22/$1.38 YoY.
Enterprise comparable sales fell 6.9%; domestic comps down 7.3%, online down 9.3%.
FY24 revenue guidance lowered to $43.1–43.7B from $43.8–44.5B; comp sales decline now 6.0–7.5%.
Non-GAAP diluted EPS guidance revised to $6.00–6.30 (from $6.00–6.40); quarterly dividend $0.92 payable Jan 2.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

BEST BUY CO INC updated its FY24 guidance (lowered).

Period: FY24
Guidance: lowered
Result: guidance update

Exact text from the filing

Based on the sales trends in Q3 and so far in November, we believe it is prudent to lower our annual revenue outlook.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.99

BEST BUY CO INC updated its the 13-week third quarter ended October 28, 2023 guidance (lowered).

Period: the 13-week third quarter ended October 28, 2023
Guidance: lowered
Result: reported results

Exact text from the filing

On November 21, 2023, Best Buy Co., Inc. (“Best Buy” or the “registrant”) issued a news release announcing its results of operations for the third quarter ended October 28, 2023.

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Source: SEC EDGAR

accession 0000764478-23-000049

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