When Best Buy Co., Inc. BBY releases its third-quarter fiscal 2023 results on Nov. 22, before the opening bell, it is likely to show a decline in both the top and bottom lines from the corresponding prior-year quarter’s reported numbers.
The $10,292 million sales estimate provided by Zacks indicates a 13.6% decline from the reported amount for the same fiscal quarter last year. Although the $1.03 per share Zacks Consensus Estimate for quarterly earnings has been constant over the previous 30 days, it still indicates a more than 50% decline from the fiscal quarter’s total last year.
As compared to the prior fiscal quarter, we anticipate a 13% decline in revenues to $10,365 million and a 51.5% decline in adjusted earnings to $1.01 per share. Comparable sales are probably going to drop 12.6% in the current quarter.
In the most recent reported quarter, BBY surprised with an increase in earnings of 22.2%. The average trailing four-quarter earnings surprise for this specialty consumer goods retailer is 7%.
This article will get updated as soon as the earnings are annoucned.
