Comparable Sales Declined 10.4%
GAAP Diluted EPS of $1.22
Non-GAAP Diluted EPS of $1.38
Raises Full-Year Guidance
Resumes Share Repurchases
MINNEAPOLIS, November 22, 2022 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week third quarter ended October 29, 2022 (“Q3 FY23”), as compared to the 13-week third quarter ended October 30, 2021 (“Q3 FY22”).
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Q3 FY23 | Q3 FY22 | |
Revenue ($ in millions) | ||
Enterprise | $10,587 | $11,910 |
Domestic segment | $9,800 | $10,985 |
International segment | $787 | $925 |
Enterprise comparable sales % change1 | (10.4)% | 1.6% |
Domestic comparable sales % change1 | (10.5)% | 2.0% |
Domestic comparable online sales % change1 | (11.6)% | (10.1)% |
International comparable sales % change1 | (9.3)% | (3.0)% |
Operating Income | ||
GAAP operating income as a % of revenue | 3.4% | 5.6% |
Non-GAAP operating income as a % of revenue | 3.9% | 5.8% |
Diluted Earnings per Share (“EPS”) | ||
GAAP diluted EPS | $1.22 | $2.00 |
Non-GAAP diluted EPS | $1.38 | $2.08 |
For GAAP to non-GAAP reconciliations of the measures referred to in the above table, please refer to the attached supporting schedule.