Taking everybody by surprise, Best Buy’s second-quarter earnings and sales topped analysts’ expectations as revenue approached $9 billion, up almost 5 percent, and same-store sales grew 5.4 percent.
Net income hit $209 million, from $198 million year over year. Based on the strong quarter the chain raised its revenue outlook for the full year to 4 percent growth, compared with a prior forecast of 2.5 percent growth.
Drilling down, comparable sales growth in computing, wearables, smart home, smartphones and appliances was partially off set by declines in tablets, the company said.
