Best Buy Stock Surges 17-18% on Strong Q1 Earnings and Sales Beat
Best Buy reported fiscal Q1 2027 results on May 28, 2026, beating Wall Street expectations with revenue of $8.94 billion and adjusted EPS of $1.28. Comparable sales rose 2%, reversing prior declines, driven by new gadgets like Apple’s MacBook Neo, gaming consoles, AI glasses, and smart rings. The company reaffirmed full-year guidance amid a leadership transition, with CEO Corie Barry stepping down in fall 2026. Stock surged up to 18% in response.
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Best Buy stock surges 17% on Q1 earnings beat, reaffirms full-year outlook
Best Buy Co Inc (NYSE:BBY) shares surged 17% after reporting first-quarter earnings that exceeded Wall Street expectations. The company posted adjusted earnings per share of $1.28, beating the consensus estimate of $1.22, while total revenue rose to $8.94 billion, above the expected $8.82 billion. Comparable sales increased 2% year-over-year, reversing a prior-year decline, with domestic comparable sales up 1.8% and international comparable sales rising 4.7%. Operating income margin improved to 4.1% from 2.5% a year earlier. CEO Corie Barry highlighted strong performance across major product categories and growth in Best Buy Ads and Marketplace initiatives. CFO Matt Bilunas noted a strong start to May with month-to-month growth in the high single digits. The company reaffirmed its full-year 2027 guidance, including revenue of $41.2-$42.1 billion and adjusted EPS of $6.30-$6.60.
Yahoo FinanceBest Buy stock surges 17% on first quarter earnings beat
Best Buy Co Inc reported first quarter earnings that exceeded Wall Street expectations, causing its stock to jump 17%. Adjusted earnings per share came in at $1.28, above the $1.22 consensus estimate, while total revenue rose to $8.94 billion, surpassing the $8.82 billion forecast. Comparable sales increased 2.0%, reversing a year-ago decline, driven by strong performance across most major product categories and growth in Best Buy Ads and Marketplace initiatives. Operating income margin improved to 4.1% from 2.5% a year earlier. The company reaffirmed its full-year 2027 guidance, including revenue of $41.2 billion to $42.1 billion and adjusted diluted EPS of $6.30 to $6.60. CFO Matt Bilunas noted a strong start to May with high single-digit month-to-month growth, though the company expects Q2 comparable sales growth of approximately 1.0% as it laps a successful gaming launch from the prior year.
Yahoo FinanceBest Buy Q1 FY2027 Earnings Beat: Comparable Sales Up 2%
Best Buy reported first-quarter fiscal 2027 results that exceeded analyst expectations, with comparable sales rising 2% year-over-year, reversing a streak of declines. Revenue reached $8.94 billion, up from $8.77 billion a year earlier, while net income rose to $276 million ($1.31 per diluted share) from $202 million (95 cents per share). Adjusted diluted EPS came in at $1.28, beating the $1.23 consensus estimate. Gaming, computing, mobile phones, and services led domestic comparable sales gains, while appliances declined 13.6%. CEO Corie Barry announced she will step down later this year, with Chief Customer, Product and Fulfillment Officer Jason Bonfig taking over on November 1, 2026. Best Buy left its full-year outlook unchanged, targeting adjusted EPS of $6.30-$6.60 and revenue between $41.2 billion and $42.1 billion. The stock rose roughly 7% in premarket trading.
Yahoo FinanceBest Buy beats Q1 earnings estimates as retailer works to reverse sales slump
Best Buy reported better-than-expected first fiscal quarter results on Thursday, with adjusted earnings per share of $1.28 (above the $1.23 estimate) and revenue of $8.94 billion (above the $8.83 billion estimate). The electronics retailer posted comparable sales growth of 2%, driven by gains in gaming, computing, mobile phones, and services, partially offset by a decline in appliance sales. The company reaffirmed its full-year guidance of revenue between $41.2 billion and $42.1 billion and adjusted EPS of $6.30 to $6.60. The results come amid a broader sales slump and leadership transition, with CEO Corie Barry set to step down in the fall and Jason Bonfig taking over on November 1. Best Buy is also expanding into higher-margin advertising and marketplace businesses, following trends seen at Walmart and Target.
US Top News and AnalysisBest Buy Stock Surges 17% on Strong Q1 Sales Driven by New Gadgets and Higher Tax Refunds
Best Buy's stock surged 17% on May 28, 2026, after reporting fiscal first-quarter results that beat Wall Street expectations. Same-store sales grew 2%, reversing a 0.8% decline in the previous quarter, driven by new product launches like Apple's MacBook Neo and higher tax refunds. Revenue reached $8.9 billion, above the expected $8.8 billion, with adjusted earnings of $1.28 per share. CEO Corie Barry noted that customers are spending across demographics, with strong sales in gaming consoles (Switch 2, PS5, Xbox) and emerging categories like AI glasses and smart rings. However, higher-priced appliances faced pressure. The company also flagged rising memory component costs, which may impact average selling prices and unit sales in Q2. This is the first report since Barry announced she will step down at the end of Q3.
Yahoo FinanceBest Buy Stock Surges 18% on Strong Q1 Sales Driven by New Gadgets and Higher Tax Refunds
Best Buy's stock surged 18% on May 28, 2026, after the retailer reported fiscal first-quarter results that beat Wall Street expectations. Same-store sales grew 2%, far exceeding the 0.9% forecast, reversing a 0.8% decline in the prior quarter. Revenue reached $8.9 billion, above the $8.8 billion expected, with adjusted earnings of $1.28 per share topping the $1.22 estimate. Key drivers included strong demand for Apple's MacBook Neo, gaming consoles (Switch 2, PlayStation 5, Xbox), and new categories like AI glasses, 3D printers, Pokémon trading cards, and smart rings. CEO Corie Barry noted customers across demographics are spending on innovative products despite a K-shaped economy. Incoming CEO Jason Bonfig acknowledged rising memory component costs but said consumers are not yet pulling back on purchases. The report is the first since Barry announced she will step down at the end of the third quarter.
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