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Tuesday, August 21, 2012

Best Buy’s Tough Earnings May Lift Schulze’s Hopes a Little

Best Buy’s Tough Earnings May Lift Schulze’s Hopes a Little

Best Buy‘s second-quarter earnings are in, and they are rough.
The company’s operating income slid 52 percent, to $124 million, from the period a year earlier. And its earnings per share from that operating income dropped to 20 cents a share, badly missing the average analyst estimate of 31 cents a share, according to Thomson Reuters.
Using generally accepted accounting principles, Best Buy’s net earnings slid nearly 91 percent, to $12 million, from the year-ago period.

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