After reporting a 2nd quarter fiscal 2018 earnings that beat Wall Street estimates on Tuesday, Best Buy (NASDAQ:$BBY)’s earnings per share have risen more than 3%.
Traditional brick-and-mortar retail stores have been presumed dead for some time now. Thanks to the company’s long term vision and its accompanying boom in the e-commerce segment, Best Buy has seen an impressive twelve consecutive earnings beats. Not to mention that investors have gotten pretty rich. Let’s take a closer look at what Best Buy is doing right:
- In the 3 months of summer, Best Buy reported a net profit of $209 million, or 67 cents/ share
- Revenue was reported to be $8.94 billion
- Revenue at established stores increased by 5.4% through the past year, topping the expected 2.2%
- In November, EPS is expected to range between 75 cents to 80 cents, well above the consensus of 65 cents
- Forecast revenue range is to be between $9.3 and $9.4 billion, well above analysts’ estimates of $8.99 billion
Perhaps an attributing hero to these impressive numbers is Best Buy’s new in-home advisory program, as well as scale in regions such as Canada and Mexico. Further, Best Buy has also focused on cutting costs.
Currently, Best Buy is experiencing an all-time high for its shares, which has surged 45% year to date. Not to mention, it somehow escaped the shadow of e-commerce mega giant Amazon (NASDAQ:$AMZN).
Featured Image: twitter
