Best Buy Surpasses Earnings Expectations, Raises Profit Forecast

Despite a dip in sales, Best Buy's strategic positioning and consumer demand for new tech drive optimism for the fiscal year.

Best Buy reported earnings of $291 million, beating Wall Street estimates.
Quarterly revenue fell 3% to $9.29 billion, with comparable sales down 2.3%.
The company raised its full-year profit guidance to $6.10-$6.35 per share.
Best Buy's stock surged over 14% following the positive earnings report.
CEO Corie Barry highlighted growth in tablet and computing sales as key drivers.