earnings

By Best Buy Company News

21 Nov: Best Buy reports Q3 FY24 results

Comparable Sales Declined 6.9%

GAAP Diluted EPS of $1.21

Non-GAAP Diluted EPS of $1.29

MINNEAPOLIS, November 21, 2023 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week third quarter ended October 28, 2023 (“Q3 FY24”), as compared to the 13-week third quarter ended October 29, 2022 (“Q3 FY23”).

Click here to view full release and statements.

	Q3 FY24	Q3 FY23
Revenue ($ in millions)
Enterprise	$9,756	$10,587
Domestic segment	$8,996	$9,800
International segment	$760	$787
Enterprise comparable sales % change¹	(6.9)%	(10.4)%
Domestic comparable sales % change¹	(7.3)%	(10.5)%
Domestic comparable online sales % change¹	(9.3)%	(11.6)%
International comparable sales % change¹	(1.9)%	(9.3)%
Operating Income
GAAP operating income as a % of revenue	3.6%	3.4%
Non-GAAP operating income as a % of revenue	3.8%	3.9%
Diluted Earnings per Share (“EPS”)
GAAP diluted EPS	$1.21	$1.22
Non-GAAP diluted EPS	$1.29	$1.38

For GAAP to non-GAAP reconciliations of the measures referred to in the above table, please refer to the attached supporting schedule.

By Best Buy Company News

29 Aug: Best Buy reports Q2 FY24 results

Comparable Sales Declined 6.2%

GAAP Diluted EPS of $1.25

Non-GAAP Diluted EPS of $1.22

MINNEAPOLIS, August 29, 2023 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week second quarter ended July 29, 2023 (“Q2 FY24”), as compared to the 13-week second quarter ended July 30, 2022 (“Q2 FY23”).

Click here to view full release and statements.

	Q2 FY24	Q2 FY23
Revenue ($ in millions)
Enterprise	$9,583	$10,329
Domestic segment	$8,890	$9,569
International segment	$693	$760
Enterprise comparable sales % change¹	(6.2)%	(12.1)%
Domestic comparable sales % change¹	(6.3)%	(12.7)%
Domestic comparable online sales % change¹	(7.1)%	(14.7)%
International comparable sales % change¹	(5.4)%	(4.2)%
Operating Income
GAAP operating income as a % of revenue	3.6%	3.6%
Non-GAAP operating income as a % of revenue	3.8%	4.1%
Diluted Earnings per Share (“EPS”)
GAAP diluted EPS	$1.25	$1.35
Non-GAAP diluted EPS	$1.22	$1.54

For GAAP to non-GAAP reconciliations of the measures referred to in the above table, please refer to the attached supporting schedule.

By Best Buy Company News

25 May: Best Buy reports Q1 FY24 results

Comparable Sales Declined 10.1%

GAAP Diluted EPS of $1.11

Non-GAAP Diluted EPS of $1.15

FY24 Financial Guidance Remains Unchanged

MINNEAPOLIS, May 25, 2023 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week first quarter ended April 29, 2023 (“Q1 FY24”), as compared to the 13-week first quarter ended April 30, 2022 (“Q1 FY23”).

Click here to view full release and statements.

	Q1 FY24	Q1 FY23
Revenue ($ in millions)
Enterprise	$9,467	$10,647
Domestic segment	$8,801	$9,894
International segment	$666	$753
Enterprise comparable sales % change¹	(10.1)%	(8.0)%
Domestic comparable sales % change¹	(10.4)%	(8.5)%
Domestic comparable online sales % change¹	(12.1)%	(14.9)%
International comparable sales % change¹	(5.5)%	(1.4)%
Operating Income
GAAP operating income as a % of revenue	3.3%	4.3%
Non-GAAP operating income as a % of revenue	3.4%	4.6%
Diluted Earnings per Share (“EPS”)
GAAP diluted EPS	$1.11	$1.49
Non-GAAP diluted EPS	$1.15	$1.57

For GAAP to non-GAAP reconciliations of the measures referred to in the above table, please refer to the attached supporting schedule.

By Best Buy Company News

02 Mar: Best Buy reports Q4 FY23 results

Comparable Sales Declined 9.3%

GAAP Diluted EPS of $2.23

Non-GAAP Diluted EPS of $2.61

Increased Quarterly Dividend 5% to $0.92 per Share

Expects FY24 Non-GAAP Diluted EPS of $5.70 to $6.50

MINNEAPOLIS, March 2, 2023 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week fourth quarter ended January 28, 2023 (“Q4 FY23”), as compared to the 13-week fourth quarter ended January 29, 2022 (“Q4 FY22”).

Click here to view full release and statements.

	Q4 FY23	Q4 FY22	FY23	FY22
Revenue ($ in millions)
Enterprise	$14,735	$16,365	$46,298	$51,761
Domestic segment	$13,531	$14,993	$42,794	$47,830
International segment	$1,204	$1,372	$3,504	$3,931
Enterprise comparable sales % change¹	(9.3)%	(2.3)%	(9.9)%	10.4%
Domestic comparable sales % change¹	(9.6)%	(2.1)%	(10.3)%	11.0%
Domestic comparable online sales % change¹	(13.0)%	(11.2)%	(13.5)%	(12.0)%
International comparable sales % change¹	(5.7)%	(3.8)%	(5.4)%	3.3%
Operating Income
GAAP operating income as a % of revenue	4.1%	4.9%	3.9%	5.9%
Non-GAAP operating income as a % of revenue	4.8%	5.1%	4.4%	6.0%
Diluted Earnings per Share (“EPS”)
GAAP diluted EPS	$2.23	$2.62	$6.29	$9.84
Non-GAAP diluted EPS	$2.61	$2.73	$7.08	$10.01

For GAAP to non-GAAP reconciliations of the measures referred to in the above table, please refer to the attached supporting schedule.

By Best Buy Company News

22 Nov: Best Buy reports Q3 FY23 results

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”).

Click here to view full release and statements.

	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.

By Best Buy Company News

30 Aug: Best Buy reports Q2 FY23 results

Comparable Sales Declined 12.1% Compared to 19.6% Growth in Q2 FY22

GAAP Diluted EPS of $1.35

Non-GAAP Diluted EPS of $1.54

MINNEAPOLIS, August 30, 2022 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week second quarter ended July 30, 2022 (“Q2 FY23”), as compared to the 13-week second quarter ended July 31, 2021 (“Q2 FY22”).

Click here to view full release and statements.

	Q2 FY23	Q2 FY22
Revenue ($ in millions)
Enterprise	$10,329	$11,849
Domestic segment	$9,569	$11,011
International segment	$760	$838
Enterprise comparable sales % change¹	(12.1)%	19.6%
Domestic comparable sales % change¹	(12.7)%	20.8%
Domestic comparable online sales % change¹	(14.7)%	(28.1)%
International comparable sales % change¹	(4.2)%	5.0%
Operating Income
GAAP operating income as a % of revenue	3.6%	6.7%
Non-GAAP operating income as a % of revenue	4.1%	6.9%
Diluted Earnings per Share (“EPS”)
GAAP diluted EPS	$1.35	$2.90
Non-GAAP diluted EPS	$1.54	$2.98

For GAAP to non-GAAP reconciliations of the measures referred to in the above table, please refer to the attached supporting schedule.

By Best Buy Company News

24 May: Best Buy reports Q1 FY23 results

Comparable Sales Decreased 8.0% Compared to 37.2% Growth in Q1 FY22
GAAP Diluted EPS of $1.49
Non-GAAP Diluted EPS of $1.57

MINNEAPOLIS, May 24, 2022 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week first quarter ended April 30, 2022 (“Q1 FY23”), as compared to the 13-week first quarter ended May 1, 2021 (“Q1 FY22”).

(Click here to view full release and statements.)

	Q1 FY23	Q1 FY22
Revenue ($ in millions)
Enterprise	$ 10,647	$ 11,637
Domestic segment	$ 9,894	$ 10,841
International segment	$ 753	$ 796
Enterprise comparable sales % change¹	(8.0) %	37.2 %
Domestic comparable sales % change¹	(8.5) %	37.9 %
Domestic comparable online sales % change¹	(14.9) %	7.6 %
International comparable sales % change¹	(1.4) %	27.8 %
Operating Income
GAAP operating income as a % of revenue	4.3 %	6.6 %
Non-GAAP operating income as a % of revenue	4.6 %	6.4 %
Diluted Earnings per Share (“EPS”)
GAAP diluted EPS	$ 1.49	$ 2.32
Non-GAAP diluted EPS	$ 1.57	$ 2.23

For GAAP to non-GAAP reconciliations of the measures referred to in the above table, please refer to the attached supporting schedule.

By Best Buy Company News

03 Mar: A recap of Best Buy’s 2022 Investor Update

By Best Buy Company News

03 Mar: Best Buy reports Q4 FY22 results

Q4 Comparable Sales Decreased 2.3% Compared to 12.6% Growth in Q4 FY21
Q4 GAAP Diluted EPS of $2.62
Q4 Non-GAAP Diluted EPS of $2.73
FY22 GAAP Operating Income Rate of 5.9%
FY22 Non-GAAP Operating Income Rate of 6.0%
Increased Quarterly Dividend 26% to $0.88 per Share
Expects FY23 Non-GAAP Diluted EPS of $8.85 to $9.15
Expects FY25 Revenue of $53.5 billion to $56.5 billion
Expects FY25 Non-GAAP Operating Income Rate of 6.3% to 6.8%

MINNEAPOLIS, March 3, 2022 — Best Buy Co.,

By Best Buy Company News

23 Nov: Best Buy reports better-than-expected Q3 FY22 results

Domestic Comparable Sales Increased 2.0% on Top of 22.6% Last Year

GAAP Diluted EPS Increased 35% to $2.00

Non-GAAP Diluted EPS Increased 1% to $2.08

Raises Full-Year Enterprise Comparable Sales Growth Outlook to a

Range of 10.5% to 11.5%

MINNEAPOLIS, November 23, 2021 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week third quarter ended October 30, 2021 (“Q3 FY22”), as compared to the 13-week third quarter ended October 31, 2020 (“Q3 FY21”).

	Q3 FY22	Q3 FY21
Revenue ($ in millions)
Enterprise	$11,910	$11,853
Domestic segment	$10,985	$10,850
International segment	$925	$1,003
Enterprise comparable sales % change¹	1.6%	23.0%
Domestic comparable sales % change¹	2.0%	22.6%
Domestic comparable online sales % change¹	(10.1)%	173.7%
International comparable sales % change¹	(3.0)%	27.3%
Operating Income
GAAP operating income as a % of revenue	5.6%	4.7%
Non-GAAP operating income as a % of revenue	5.8%	6.1%
Diluted Earnings per Share (“EPS”)
GAAP diluted EPS	$2.00	$1.48
Non-GAAP diluted EPS	$2.08	2.06

For GAAP to non-GAAP reconciliations of the measures referred to in the above table, please refer to the attached supporting schedule.

By Best Buy Company News

24 Aug: Best Buy reports better-than-expected Q2 FY22 results

Enterprise Comparable Sales Increased 20%

GAAP Diluted EPS Increased 76% to $2.90

Non-GAAP Diluted EPS Increased 74% to $2.98

Excluding a $0.47 Benefit from a Lower Year-Over-Year Effective Tax Rate, GAAP and Non-GAAP Diluted EPS Increased Approximately 47%

Raises Full-Year Enterprise Comparable Sales Growth Outlook to a Range of 9% to 11%

MINNEAPOLIS, August 24, 2021 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week second quarter ended July 31, 2021 (“Q2 FY22”), as compared to the 13-week second quarter ended August 1, 2020 (“Q2 FY21”).

By Best Buy Company News

27 May: Best Buy reports better-than-expected Q1 FY22 results

Enterprise Comparable Sales Increased 37.2%

GAAP Diluted EPS Increased 280% to $2.32

Non-GAAP Diluted EPS Increased 233% to $2.23

Raises Full-Year Enterprise Comparable Sales Growth Outlook to a Range of 3% to 6%

MINNEAPOLIS, May 27, 2021 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week first quarter ended May 1, 2021 (“Q1 FY22”), as compared to the 13-week first quarter ended May 2, 2020 (“Q1 FY21”).

Revenue ($ in millions)	Q1 FY22	Q1 FY21
Enterprise	$11,637	$8,562
Domestic segment	$10,841	$7,915
International segment	$796	$647
Enterprise comparable sales % change¹	37.2%	(5.3)%
Domestic comparable sales % change¹	37.9%	(5.7)%
Domestic comparable online sales % change¹	7.6%	155.4%
International comparable sales % change¹	27.8%	0.2%
Operating Income
GAAP operating income as a % of revenue	6.6%	2.7%
Non-GAAP operating income as a % of revenue	6.4%	2.9%
Diluted Earnings per Share (“EPS”)
GAAP diluted EPS	$2.32	$0.61
Non-GAAP diluted EPS	$2.23	$0.67

For GAAP to non-GAAP reconciliations of the measures referred to in the above table, please refer to the attached supporting schedule.

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