Net profit of Best Buy doubled in the fourth quarter


The quarterly report of the world's largest electronics retailer, Best Buy, for the three months to February 2 showed a 2-fold net profit growth compared with the same period a year earlier to $735 million. Adjusted earnings of 2 dollars 72 cents per share surpassed economists' forecasts of 2 dollars 56 cents per share. Revenue also turned out to be higher than forecast, reaching $14 billion 801 million. Its annual growth was at the level of 3.7%. Best Buy stores, opened at least 14 months ago, increased sales by 3%, while experts had predicted an increase of 1.8%. The financial year, which also ended on February 2, also brought good financial results to the company. Revenue rose to 42 billion 880 million dollars, adjusted earnings - up to 5 dollars 32 cents per share.

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