Best Buy Raises Annual Guidance on Strong iPhone and Nintendo Sales—Shares Up 3%

(New York=Yonhap Infomax) Jin Woo Choi = Consumer electronics retailer Best Buy Co. (NYSE: BBY) raised its annual guidance, buoyed by robust sales of smartphones and computers.

On the 25th (local time), Best Buy reported adjusted earnings per share (EPS) of $1.40 for the three months ended November 1, the third quarter of its fiscal 2025. This exceeded the market consensus of $1.31 compiled by LSEG. Revenue came in at $9.67 billion, also beating expectations of $9.59 billion.

The company attributed the strong performance to a significant increase in sales of iPhones, Nintendo Switch 2 consoles, and laptops equipped with artificial intelligence (AI) features.

Chief Executive Officer Corie Barry said the company delivered "better-than-expected sales" with strong results in computers, gaming, and mobile phones. She added, "Our customers need to upgrade or replace their consumer electronics, and as new products and innovations come to market, our unique model is demonstrating its strengths."

Barry also noted, "We are well prepared for an exciting holiday season."

Reflecting its solid results, Best Buy raised its annual revenue guidance to a range of $41.65 billion to $41.95 billion, up from the previous forecast of $41.1 billion to $41.9 billion. Adjusted EPS guidance was also increased to $6.25–$6.53, compared to the prior range of $6.15–$6.30.

As of 07:44 a.m. in New York pre-market trading, Best Buy shares were up 2.90% at $77.81.

jwchoi@yna.co.kr

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