Best Buy’s Shiny Q2

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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.

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