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Article: Best Buy 2Q profit rises 25 percent, but misses Wall Street target

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AP Worldstream
Article date:
September 13, 2005
Copyright

AP Worldstream
09-13-2005
Dateline: MINNEAPOLIS
Best Buy Co., the biggest U.S. consumer electronics retail chain, on Tuesday said second-quarter profit rose 25 percent, fueled by robust sales of high-priced items like notebook computers, flat-panel TVs and digital music players.

The results missed Wall Street's target by a penny a share, and the retailer also forecast earnings for the current quarter below analysts' consensus estimate. Best Buy shares fell $3.39, or 6.7 percent, to $46.97 in premarket trading.

Best Buy earned $188 million (euro152.7 million), or 37 cents per share, for the three months ended Aug. 27 compared with $150 million, or 30 cents a share, reported a year ago. The ...

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