Best Buy (NYSE:BBY) traded more than 3% higher in Tuesday’s premarket session after the electronics retailer delivered stronger-than-anticipated fiscal third-quarter results for FY26 and raised its guidance for the year.
The company posted earnings per share of $1.40, topping Wall Street’s $1.30 consensus estimate.
Revenue also exceeded expectations, coming in at $9.67 billion versus the projected $9.57 billion.
Comparable sales across the enterprise rose 2.7%, supported by a 2.4% increase in the Domestic segment and a 6.3% gain internationally. Online sales grew 3.5% year over year. Adjusted operating income represented 4% of revenue for the quarter.
“We are pleased to report better-than-expected sales and adjusted operating income rate for the third quarter,” said Corie Barry, CEO of Best Buy. “Our comparable sales grew 2.7% as we continued to drive strong results across computing, gaming, and mobile phones.”
Thanks to the stronger performance, Best Buy narrowed and raised portions of its full-year FY26 outlook. The company now anticipates EPS of $6.25 to $6.35, compared with its previous forecast of $6.15 to $6.30 and slightly above analysts’ expectations of $6.26.
Revenue for the fiscal year is now projected at $41.7 billion to $42.0 billion, up from a prior range of $41.1 billion to $41.9 billion. Comparable sales are now expected to grow 0.5% to 1.2%, improving from earlier guidance that spanned a decline of 1.0% to growth of 1.0%.
Best Buy continues to expect an adjusted operating income rate of approximately 4.2%.