RICHFIELD, Minn. (AP) — Best Buy Co. (BBY) on Tuesday reported fiscal fourth-quarter earnings of $519 million.
On a per-share basis, the Richfield, Minnesota-based company said it had net income of $1.46. Earnings, adjusted for one-time gains and costs, came to $1.48 per share.READ MORE: Owner Reunited With Dog After Her Car Was Stolen In Downtown Minneapolis
The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.36 per share.
The consumer electronics retailer posted revenue of $14.21 billion in the period, which missed Street forecasts. Analysts expected $14.41 billion, according to Zacks.READ MORE: Dozens Of Homes Flooded After Water Main Breaks In St. Louis Park
For the year, the company reported profit of $1.23 billion, or $3.49 per share. Revenue was reported as $40.34 billion.
Best Buy shares have fallen roughly 1 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased almost 3 percent. The stock has climbed 45 percent in the last 12 months.MORE NEWS: Next Weather: Frost Advisory Issued For Western, Northern Minnesota
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