Best Buy Shares Rise as Investors Continue to Digest Strong Q2 Results and Higher Outlook

Best Buy Co. reported Q2 2026 revenue of $9.78B, up 3.6% YoY, and EPS of $1.48, up 70.1% YoY. Net income rose 69.4% to $315M. Growth was driven by domestic sales and omnichannel shifts, with online sales up 5.1%. Operating margins improved due to marketplace and ad revenue, tariff refunds, and lower restructuring costs. The company optimized its store footprint, closing some locations and planning modest expansions.

Best Buy (BBY) reported Q2 comparable sales growth of 4.1%, exceeding guidance and raising its full-year outlook. Revenue growth was broad-based, with strong performance in computing, home theater, and emerging products. The company also announced a leadership change, with Jason Bonfig replacing Corie Barry as CEO. However, rising costs and a leadership transition present challenges. BBY's forward P/E ratio is 12.76.

Best Buy (BBY) reported Q2 2027 revenue of $9.8B, with comparable sales up 4.1%. Adjusted operating income rate was 4.3%, and EPS grew 15% YoY to $1.47. Computing and home theater sales led growth, while traditional gaming declined. The company raised its annual guidance and highlighted success in Best Buy Ads and Marketplace initiatives.

Best Buy (BBY) raised fiscal 2027 guidance, projecting revenue of $42.3B–$42.8B, comp sales up 1.9%–3.0%, and adjusted EPS of $6.70–$6.90. The company credited AI glasses, health rings, and collectibles for ~1% of comp sales growth, while noting a slowdown in computing sales for H2.

Best Buy reported a 4.1% rise in comparable sales for Q2, driven by higher computer and mobile phone prices due to a memory chip shortage. The company raised its full-year guidance, expecting comparable sales to increase 1.9% to 3%. CEO Corie Barry will step down in November, with Jason Bonfig taking over. Best Buy's stock fell over 4% in early trading.

Several retailers reported earnings last week, with Dollar General (DG), Best Buy (BBY), and Williams-Sonoma (WSM) standing out. DG and BBY beat estimates with strong comp sales, while WSM outperformed its sector. ANF's results were inflated by tariff refunds. DG's EPS beat was minimally impacted by refunds, and it raised guidance. BBY's comp sales grew 4.1% YOY, and WSM's comp sales accelerated to 6.2% YOY, with raised margin guidance.