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May 02, 2020
Best Buy Q1 2021 Earnings Report
Best Buy's Q1 2021 performance was impacted by the COVID-19 pandemic, with a shift to a curbside-only operating model and increased online sales.
Key Takeaways
Best Buy reported a decrease in revenue and earnings per share for Q1 2021 compared to the previous year. The company's domestic comparable online sales increased significantly, but overall sales were negatively impacted by store closures and declines in certain product categories. Best Buy suspended financial guidance due to the ongoing uncertainty related to COVID-19.
Enterprise revenue decreased by 6.3% compared to the previous year.
Domestic comparable online sales increased by 155.4%.
GAAP diluted EPS was $0.61, and non-GAAP diluted EPS was $0.67.
The company shifted to a curbside-only operating model in response to the COVID-19 pandemic.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Best Buy suspended all FY21 financial guidance on March 21 and are not providing guidance today due to the ongoing uncertainty related to COVID-19.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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