Best Buy rises after forecasting Q2 sales above estimates

Best Buy

28/05/2026 12:25

** Shares of electronics retailer Best Buy BBY.N up 9% at $69.70 in premarket trading
** Co forecasts Q2 sales above Wall Street expectations after beating Q1 estimates amid steady demand for laptops and smartphones and growth in its ads and marketplace channels
** Posts 2% rise in Q1 comparable sales, above analysts' expectations of about 1% - data compiled by LSEG
** Maintains annual forecast of comparable sales in the range of a 1% decline to a 1% rise, with adjusted profit per share between $6.30 and $6.60
** Q1 adjusted EPS of $1.28 per share, beats analysts' estimate of $1.23 per share
** Co says CEO Corie Barry to step down at the end of October, succeeded by Jason Bonfig
** As of last close, stock down ~4% YTD

 (Reporting by Koyena Das from Bengaluru)
 ((Koyena.das@thomsonreuters.com))