Best Buy Q3 Earnings Soar, Top Estimates - Quick Facts

(RTTNews) - Best Buy Co., Inc. (BBY) Thursday reported third-quarter earnings which increased amid cost cuts and revenue growth. Earnings also surpassed analysts' estimates.

For the fourth quarter, the company expects near flat year-over-year growth in revenue and comparable sales.

The electronics retailer's third-quarter earnings totaled $107 million or $0.30 per share, up from $54 million or $0.16 per share a year earlier.

Excluding certain items, per-share earnings, from continuing operations, of $0.32 bested the $0.25 average estimate of twenty-five analysts polled by Thomson-Reuters. Analysts' estimates typically exclude one-time items.

Revenue edged up to $9.38 billion, from $9.33 billion last year. Analysts expected revenues of $9.11 billion.

Comparable sales increased 2.2 percent.