Best Buy Lifts Outlook After Better-Than-Expected Results

Best Buy Co. raised its guidance for the current fiscal year, as demand for the latest consumer technology drove revenue and profit ahead of Wall Street’s estimates in the most recent period.

The Richfield, Minnesota-based retailer now expects revenue of $41.7 billion to $42 billion, up from its previous guidance and ahead of analyst expectations. The company also raised its outlook for comparable sales and adjusted earnings per share, ahead of expectations.