Short Tips: : Best Buy’s stock slides premarket after revenue miss and as retailer lowers guidance
Best Buy Co. Inc.’s stock BBY fell 4% in premarket trade Tuesday, after the electronics retailer posted weaker-than-expected third-quarter revenue and lowered guidance to reflect a choppy and uncertain environment.
The company had net income of $263 million, or $1.21 a share, for the quarter, down from $277 million, or $1.22 a share, in the year-earlier period. Adjusted per-share earnings came to $1.29, ahead of the $1.19 FactSet consensus.
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