Best Buy Co., Inc. Reports Earnings Results for the Second Quarter and Six Months Ended July 30, 2022
August 30, 2022 at 07:00 am EDT
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Best Buy Co., Inc. reported earnings results for the second quarter and six months ended July 30, 2022. For the second quarter, the company reported sales was USD 10,329 million compared to USD 11,849 million a year ago. Net income was USD 306 million compared to USD 734 million a year ago. Basic earnings per share from continuing operations was USD 1.36 compared to USD 2.93 a year ago. Diluted earnings per share from continuing operations was USD 1.35 compared to USD 2.9 a year ago.
For the six months, sales was USD 20,976 million compared to USD 23,486 million a year ago. Net income was USD 647 million compared to USD 1,329 million a year ago. Basic earnings per share from continuing operations was USD 2.86 compared to USD 5.28 a year ago. Diluted earnings per share from continuing operations was USD 2.85 compared to USD 5.22 a year ago.
Best Buy Co., Inc. specializes in retail distribution of consumer electronic products and entertainment products. The group provides primarily computing products (computers, peripherals, software), hi-fi products (televisions, DVD players, etc.), cameras, mobile phones, audio systems and home appliances (washers, refrigerators, etc.). Net sales break down by area of activity as follows:
- the United States (92.4%): activity insured, at 28/01/2023, through a network of 978 stores distributed by names mainly between Best Buy (925) and Pacific Sales (20);
- Canada (7.6%): 160 stores distributed between Best Buy (127) and Best Buy Mobile (33).
Products are also marketed through Websites (primarily Bestbuy.com, BestBuyMobile.com, GeekSquad.com, MagnoliaAV.com, PacificSales.com, and FutureShop.ca).
BEST BUY CO., INC. 
