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Why Best Buy Stock Is Rising Today

TheMotleyFool

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Shares of Best Buy (NYSE: BBY) jumped as much as 10.2% higher on Tuesday, boosted by a strong second-quarter earnings report.

Best Buy's sales increased 20% year over year, landing at $11.9 billion. Adjusted earnings jumped from $1.71 to $2.98 per share over the same time frame. Your average analyst would have settled for earnings near $1.85 per share on top-line revenue in the neighborhood of $11.5 billion.

Management also set optimistic revenue targets for the third quarter and full year, encouraged by improving business trends.

Source Fool.com

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