Best Buy Co Inc. Q4 Profit Decreases, but beats estimates

(RTTNews) - Best Buy Co Inc. (BBY) reported earnings for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $495 million, or $2.23 per share. This compares with $626 million, or $2.62 per share, in last year's fourth quarter.

Excluding items, Best Buy Co Inc. reported adjusted earnings of $2.61 per share for the period.

Analysts on average had expected the company to earn $2.11 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 10.0% to $14.74 billion from $16.37 billion last year.

Best Buy Co Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $495 Mln. vs. $626 Mln. last year. -EPS (Q4): $2.23 vs. $2.62 last year. -Analyst Estimates: $2.11 -Revenue (Q4): $14.74 Bln vs. $16.37 Bln last year.