Wednesday, March 31, 2004
Best Buy forth quarter earnings jumped 51 percent as the company benefited from new stores, sales gains and the absence of its former Musicland division.
Best Buy earned $469 million, or $1.42 per share, for the fourth quarter ending Feb. 28, up from $311 million, or 96 cents per share, for the same period last year. Analysts surveyed by Thomson First Call expected $1.39 per share.
Revenue rose 21 percent to $8.45 billion from $6.99 billion. The company said its first quarter and full-year fiscal 2005 earnings would be higher than current analyst expectations.
By: DocMemory
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