Best Buy’s earnings exceed expectations as demand softens
November 22, 2022
Best Buy reported adjusted earnings per share of $1.38, well ahead of the $1.03 expected by analysts. The consumer electronics giant saw demand for high ticket items in computing and home theater decline as consumers focused their purchasing on essentials. “Across consumers we can also see that savings are being drawn down and credit usage is going up,” said CEO Corie Barry. “And value clearly matters to everyone.”
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