Best Buy Surpasses Expectations After Forecast Cut 📈

Best Buy ($BBY@US) surpassed Wall Street’s expectations for quarterly performance after cutting its forecast earlier this year. In the three-month period ending October 29th, its earnings per share was $1.38 versus the $1.03 expected, and its revenue was $10.59 billion versus the $10.31 billion expected. Its shares rose 7 percent in premarket trading. The electronics retailer continues to see a demand for consumer electronics despite consumer cuts in discretionary spending.