Holiday season consumer demand strong! Best Buy Co., Inc. (BBY.US) Q3 revenue and profits exceed expectations, raising full-year guidance.

Retail giant Best Buy Co., Inc. (BBY.US) has released its financial report for the third quarter of the 2026 fiscal year. The report shows that the company achieved revenue of $9.67 billion for the quarter, surpassing the market's previous general expectation of $9.58 billion; net profit reached $140 million, with diluted earnings per share of $0.66, and adjusted earnings per share rising to $1.40, also exceeding the market estimate of $1.30. Of note, its same-store sales increased by 2.7% year-on-year, outperforming analysts' average expectations by nearly 1 percentage point (1.62%). Based on strong expectations for holiday season consumer demand, the company has raised its full-year revenue and profit guidance - consumers are actively upgrading their laptops, smartphones, and other household electronic devices with significant discounts. In terms of regional performance, the company's domestic business revenue reached $8.88 billion, a 2.1% increase from the same period last year, primarily driven by a 2.4% increase in same-store sales. In the international market, the company achieved revenue of $790 million, a 6.1% year-on-year increase, primarily due to a 6.3% increase in same-store sales and incremental contributions from Best Buy Express stores (whose revenue is not included in same-store statistics), although the negative impact of exchange rate fluctuations partially offset the growth. It is worth mentioning that Best Buy Co., Inc.'s domestic online channel revenue reached $2.82 billion, a comparable basis increase of 3.5% year-on-year, increasing its share of total domestic revenue to 31.8% (up from 31.4% in the same period last year). In terms of product structure, the computer and tablet category contributed about one-third of sales, with this category continuing to show strong growth, driven by consumer adoption and upgrades to new technology products, as well as the demand for new devices during the pandemic. The gaming business also performed well, especially with the launch of the Nintendo Switch 2 earlier this year, effectively driving growth in related product sales. However, the decline in sales of home theaters and household appliances partially offset overall growth. Best Buy Co., Inc. CEO Corie Barry stated, "We are pleased to announce that revenue and profit for the third quarter exceeded expectations. Our same-store sales increased by 2.7%, driven by our strong performance in computers, gaming, and smartphones. Sales in both online and offline channels have grown, customer experience ratings continue to improve, and we have also launched the Best Buy Co., Inc. marketplace." Looking ahead, the company has adjusted its performance guidance for the 2026 fiscal year: it expects same-store sales to achieve a year-on-year growth of 0.5% to 1.2%, significantly higher than the previous range (-1% to +1%); full-year revenue guidance has been raised to $41.65 billion to $41.95 billion range (original guidance was $41.1 billion to $41.9 billion); and adjusted earnings per share expectations have narrowed to $6.25 to $6.35 (from the previous target range of $6.15 to $6.30). After the financial report was released, Best Buy Co., Inc.'s stock price rose more than 3% in pre-market trading, but at the time of writing, the stock had reversed to a 1.08% decline, trading at $74.80 per share.