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Why Best Buy Stock Just Crashed

TheMotleyFool

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Shares of electronics superstore chain Best Buy (NYSE: BBY) sure don't seem to be living up to their name today, at least not as of 3:20 p.m. EST, when they were down 8.8%.

Why are Best Buy shares down? In an early-morning earnings report today, the retailer confirmed that it had beaten analyst estimates for its fiscal fourth-quarter 2021 profits, earning $3.48 per share on a pro forma basis when only $3.45 was expected. But the company missed on sales, turning in $16.9 billion last quarter versus analyst expectations for $17.2 billion.

Image source: Getty Images.

Source Fool.com

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