Best Buy Shares Fall Despite Forecast
Best Buy raised its full-year earnings and sales forecasts following temporary tariff refunds and stronger demand for AI devices. However, investors booked profits after a recent rally, sending the retailer shares down.
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Best Buy Co Inc shares fell 4.5% on Thursday despite raising its full-year forecasts, as investors booked profits following a 30% rally this year. The drop came even as the top United States electronics retailer posted second-quarter adjusted earnings per share of $1.47, beating analyst estimates of $1.38. Investors looked past temporary tariff refunds and focused on slowing demand for large appliances and higher component costs.
