Best Buy posted strong results for the second quarter ended on 1 August 2026, with revenue increasing by approximately 3.5 per cent to $9.8bn year-on-year.
The specialty retailers’ comparable sales went up by 4.1 per cent compared to the same period last year.
The company’s diluted earnings per share surged by 70 per cent to $1.48, which was boosted by a strong performance across categories and positive results from Best Buy Ads and Marketplace initiatives, according to the business.
Best Buy increased its full-year earnings forecast following the strong performance in the first half of the year.
The specialty retailer now expects an annual revenue of between $42.3bn and $42.8bn compared to the previous forecast of $41.2bn to $42.1bn.
Jason Bonfig, Best Buy chief customer and incoming CEO, said: “We are very pleased to report we outperformed expectations in the second quarter with comparable sales growth of 4.1 per cent and a higher-than-expected adjusted operating income rate.
“The strength of our Q2 results reflects both the deliberate actions we have taken to position the business for growth and a healthy demand environment for our category.
“Over the past several years, we have invested in areas that matter most to customers, including elevating specialty expertise in our stores, partnering closely with our vendors to bring innovation to market, and improving fulfillment speed and execution across our supply chain.
“We are raising our annual financial guidance due to the strong first half performance and our momentum as we enter the second half of the year.”
Additionally, the retailer forecasted a full-year adjusted EPS of $6.70 to $6.90, compared to a prior guidance of $6.30 to $6.60.
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