Why Shares of Best Buy Are Surging Today

Shares of Best Buy (NYSE: BBY) climbed more than 7% on Tuesday morning after the electronics retailer reported better-than-expected third-quarter results and raised its full-year guidance. The company demonstrated strong momentum heading into the important holiday season.

On Tuesday, Best Buy morning reported third-quarter earnings of $1.13 per share on revenue of $9.76 billion, beating analyst expectations for $1.03 per share in earnings on sales of $9.7 billion. The company is seeing strong demand for appliances, tech accessories, and support services.

CEO Corie Barry said in a statement that Best Buy is gearing up for the holiday season by offering customers a range of products and flexibility to shop and receive products as they wish.

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Source Fool.com