Best Buy rises after forecasting Q2 sales above estimates

Best Buy

28/05/2026 15:18

Updates
** Shares of electronics retailer Best Buy BBY.N rise as much as 14.6% to $73.99
** Stock on track for best day in more than six years, if gains hold
** Co forecasts Q2 sales above expectations after beating Q1 estimates amid steady demand for laptops and smartphones and growth in its ads and marketplace channels
** Co sees current quarter sales rising 1%, above analysts' expectation of a 0.4% decline - data compiled by LSEG
** Posts 2% rise in Q1 comparable sales, above analysts' expectations of about 1% 
** Q1 adjusted EPS of $1.28 per share, beats analysts' estimate of $1.23 per share
** 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
** 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))