Best Buy (NYSE:BBY) reported second-quarter results that exceeded analyst projections, while reaffirming its full-year guidance amid ongoing uncertainty over tariffs. Despite the positive numbers, the retailer’s shares dipped more than 1% in pre-market trading on Thursday.
The company posted earnings per share (EPS) of $1.28, beating the consensus estimate of $1.22, with revenue reaching $9.44 billion compared to the $9.23 billion expected. Comparable store sales increased 1.6% during the quarter.
“We delivered comparable sales growth of 1.6% in the second quarter, our highest growth in three years,” said Corie Barry, CEO of Best Buy.
“This better-than-expected sales growth was driven by a mix of new technology innovation, our relentless focus on a seamless omni-channel customer experience and our strong vendor partnerships.”
Barry also noted, “Given the uncertainty of potential tariff impacts in the back half, both on consumers overall as well as our business, we feel it is prudent to maintain the annual guidance we provided last quarter. At this point, we do believe we are trending toward the higher end of our sales range.”
For fiscal 2026, Best Buy expects EPS between $6.15 and $6.30, compared with the $6.19 analyst consensus. Revenue guidance ranges from $41.1 billion to $41.9 billion, roughly in line with the $41.41 billion forecast. Comparable sales are projected to range from a 1% decline to a 1% increase.
Looking ahead to the third quarter, the retailer anticipates comparable sales growth similar to the 1.6% rise in Q2, with adjusted operating income expected to remain near last year’s Q3 level of 3.7%.
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