Best Buy exceeded Wall Street revenue and earnings expectations for the latest quarter but maintained its full-year forecast due to tariff uncertainty. The company anticipates revenue of $41.1 billion to $41.9 billion and adjusted earnings per share of $6.15 to $6.30 for fiscal year 2026. CFO Matt Bilunas expressed confidence in the company’s plans for the rest of the year.

In the three-month period ending August 2, Best Buy reported adjusted earnings per share of $1.28, surpassing the expected $1.21, and revenue of $9.44 billion, exceeding the anticipated $9.24 billion. A combination of factors such as reduced appliance purchases, tariff concerns, and tech upgrades has impacted the company’s sales over the past three years.

To drive growth, Best Buy recently introduced a third-party marketplace offering a wider range of consumer electronics and accessories. CEO Corie Barry revealed that some prices were raised due to tariff-related cost increases, emphasizing that price adjustments were a last resort. The company’s net income for the fiscal second quarter decreased year over year, but revenue saw an increase.

Despite challenges, Best Buy managed to achieve a 1.6% increase in comparable sales year over year. The company’s strategic initiatives, including the third-party marketplace launch, aim to enhance customer choices and drive revenue growth. Stay tuned for more updates on this developing story.

Read more at CNBC: Best Buy (BBY) earnings Q2 2026