earnings

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.

By Best Buy Company News PR News Alerts

16 Nov: Best Buy Reports Third Quarter FY18 Results

Enterprise Comparable Sales Increased 4.4%

Diluted EPS of $0.78 Increased 30%

Raising FY18 Financial Outlook

MINNEAPOLIS, November 16, 2017 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the third quarter ended October 28, 2017 (“Q3 FY18”), as compared to the third quarter ended October 29, 2016 (“Q3 FY17”). The company reported diluted earnings per share from continuing operations of $0.78, an increase of 30% from $0.60 in Q3 FY17. (PDF version here.)

	Q3 FY18	Q3 FY17¹
Revenue ($ in millions)²
Enterprise	$9,320	$8,945
Domestic segment	$8,491	$8,192
International segment	$829	$753
Enterprise comparable sales % change	4.4%	1.8%
Domestic comparable sales % change	4.5%	1.8%
Domestic comparable online sales % change	22.3%	24.1%
International comparable sales % change	3.8%	N/A
Operating Income:
GAAP operating income as a % of revenue	3.8%	3.5%
Non-GAAP operating income as a % of revenue	3.7%	3.5%
Diluted Earnings per Share (EPS):
GAAP diluted EPS from continuing operations	$0.78	$0.60
Non-GAAP diluted EPS from continuing operations	$0.78	$0.60
For GAAP to non-GAAP reconciliations, please refer to the attached supporting schedule titled “Reconciliation of non-GAAP Financial Measures”.

By Best Buy Company News PR News Alerts

29 Aug: Best Buy Reports Better-than-Expected Second Quarter Results

Enterprise Comparable Sales Increased 5.4%

GAAP Diluted EPS of $0.67 Increased 20%

Non-GAAP Diluted EPS of $0.69 Increased 21%

MINNEAPOLIS, August 29, 2017 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the second quarter ended July 29, 2017 (“Q2 FY18”), as compared to the second quarter ended July 30, 2016 (“Q2 FY17”). The company reported GAAP diluted earnings per share from continuing operations of $0.67, an increase of 20% from $0.56 in Q2 FY17. Non-GAAP diluted earnings per share from continuing operations were $0.69, an increase of 21% from $0.57 in Q2 FY17. (

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