Best Buy Earnings Rise, Raises FY26 Outlook
Best Buy earnings led to a FY26 guidance lift as Q3 revenue and comps improved, prompting traders to adjust positioning ahead of holiday demand.
KEY TAKEAWAYS
- Raised FY26 revenue to $41.7-$42.0 billion and non-GAAP EPS to $6.25-$6.35.
- Q3 revenue rose to $9.7 billion; enterprise comparable sales increased 2.7%.
- Management cited pandemic-era electronics replacements and holiday promotions as drivers.
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Best Buy Co., Inc. reported Q3 FY26 results on Nov. 25, 2025, showing stronger revenue and comparable-sales growth. The company raised its FY26 revenue and non-GAAP earnings per share (EPS) guidance as shoppers replaced pandemic-era electronics ahead of the holidays.
Q3 Results and Guidance Update
For the quarter ended Nov. 1, 2025, Best Buy’s revenue rose 2.3% year over year to $9.7 billion. Enterprise comparable sales increased 2.7%, reversing a 2.9% decline a year earlier, while domestic comparable sales rose 2.4%, following a 2.8% drop in the prior year. Non-GAAP diluted EPS was $1.40, compared with GAAP diluted EPS of $0.66.
The return to positive comparable-sales growth marked a significant turnaround from the previous year. Best Buy highlighted the stronger adjusted EPS as evidence of operational resilience despite lower reported GAAP profit.
The company raised its full-year FY26 revenue outlook to $41.7 billion–$42.0 billion and updated its non-GAAP EPS guidance to $6.25–6.35, slightly above prior consensus. The guidance assumes continued holiday strength and successful promotional activity.
Management attributed the outlook boost to consumers replacing electronics purchased during the pandemic, strong holiday demand, and shoppers responding to discounts. It said it would continue monitoring macroeconomic factors such as tariff impacts and discretionary spending trends.
This guidance update centers the pandemic-era replacement cycle and seasonal promotions as near-term growth drivers, signaling management’s confidence in resilient consumer demand despite broader economic concerns.
