Best Buy reports 4.3% rise in Q2 revenue, increases guidance

Best Buy raised its fiscal year outlook after reporting a 4.1% increase in comparable sales for Q2. TV sales rose over 10%, driven by interest in RGB televisions. Computer sales grew due to higher memory costs and demand for AI-capable devices, according to analysts.

Best Buy raised its fiscal year outlook after reporting a 4.1% increase in comparable sales in Q2. Meanwhile, states are investing in tech startups to address rural healthcare challenges, despite the unproven nature of these companies.

Best Buy's revenue growth in Q2 was driven by higher computer prices due to a memory chip shortage, with comparable sales up 4.1%. The company raised its full-year guidance but expects computer sales to slow. Best Buy's stock fell over 4% post-earnings. CEO Corie Barry will step down, with Jason Bonfig taking over in November.

Best Buy (BBY) reported Q2 CY2026 revenue of $9.78B, up 3.6% YoY, beating estimates. Adjusted EPS was $1.47, 6.5% above consensus. Full-year revenue guidance was raised to $42.55B. Operating margins improved to 4.3%. Growth was driven by computing, home theater, and emerging categories like AI glasses. Management expects continued momentum in these areas and from digital initiatives.

Best Buy reported strong Q2 earnings, raising its outlook. Sales of new categories like AI wearables and Pokémon cards doubled, offsetting declines in traditional segments. Revenue rose 3.6% to $9.8B. Store visits increased 2.2%, with IKEA shop-in-shops seeing nearly double the traffic. 45% of online orders are picked up in-store.

Asian shares mostly rose Friday, following gains in U.S. tech stocks led by Nvidia, which surged 8.7% after strong earnings and forecasts. Salesforce also jumped 22.6% on AI-driven results. U.S. futures were flat, and oil prices dipped. Key Asian indices saw mixed movements, with Tokyo up 0.8% and Hong Kong up 0.3%.