Overview

• Best Buy reported first-quarter earnings per share of $1.13, surpassing analyst estimates.
• Revenue fell 6.5% from the previous year to $8.85 billion, missing expectations.
• Comparable store sales dropped 6.1%, an improvement from the 10.1% decline a year ago.
• The company's gross profit rate improved due to higher demand for services and memberships.
• Shares surged over 10% following the earnings report, moving into positive territory for the year.