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Oct 29, 2022
Best Buy Q3 2023 Earnings Report
Best Buy's Q3 2023 results were announced, with comparable sales declining by 10.4%. GAAP diluted EPS was $1.22, and non-GAAP diluted EPS was $1.38. The company raised its full-year guidance and resumed share repurchases.
Key Takeaways
Best Buy reported Q3 FY23 results, with revenue of $10.59 billion and a comparable sales decline of 10.4%. GAAP diluted EPS was $1.22, and non-GAAP diluted EPS was $1.38. The company has updated its FY23 outlook and now expects comparable sales to decline approximately 10%.
Enterprise revenue was $10.59 billion, compared to $11.91 billion in Q3 FY22.
Enterprise comparable sales decreased 10.4%.
GAAP diluted EPS was $1.22, while non-GAAP diluted EPS was $1.38.
The company is updating its FY23 outlook, expecting comparable sales to decline approximately 10%.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Best Buy is updating its FY23 outlook to flow through better-than-expected Q3 results while keeping Q4 expectations unchanged. The company now expects comparable sales to decline approximately 10% and its non-GAAP operating income rate to be slightly higher than 4.0%.
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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