Best Buy Co. (NYSE:BBY) shares are on the rise at the time of publishing today after the company delivered a mixed set of first-quarter numbers and maintained its outlook.
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Revenue dropped 11.1% year-over-year to $9.47 billion, missing the cut by about $60 million. EPS at $1.15, on the other hand, outperformed estimates of about $0.05. The company saw a 10.1% decline in comparable sales in Q1 and expects comparables to decline between 6% and 8% in the upcoming quarter as well.
Looking ahead, for the full-year 2024, it expects the top line to hover between $43.8 billion and $45.2 billion. EPS for the year is anticipated between $5.70 and $6.50.
Overall, the Street has an $81.37 consensus price target on BBY alongside a Hold consensus rating.
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