Best Buy First-Quarter Results Disappoint

Best Buy First-Quarter Results Disappoint

Best Buy First-Quarter Results Disappoint
Best Buy reported lower-than-expected sales and profit results for the first quarter ending May 29. Net profit reached $155 million, or 36 cents a share, up slightly from $153 million in the prior year and below analysts' expected profit of 50 cents a share, according to Thomson Reuters I/B/E/S. Best Buy also posted weak sales in its video gaming, music and movie categories. Revenue rose 6.9 percent to $10.79 billion, also below analysts' target of $10.93 billion. (6/16)

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