Earnings roundup: Best Buy, Home Depot

Earnings roundup: Best Buy posts a 1Q loss; Home Depot's 1Q net income rises 18 percent

Associated Press

Among the earnings stories for Tuesday, May 21, from AP Business News:

— Best Buy Co., the electronics retailer, reported a loss for its fiscal first quarter as it sold its stake in Best Buy Europe and works on a turnaround plan that includes cutting costs and closing some stores.

— Home Depot Inc.'s first-quarter net income rose 18 percent, thanks to the ongoing housing recovery, despite a chilly and wet spring. Its quarterly results topped Wall Street expectations, and the world's biggest home improvement chain boosted its full-year earnings and revenue forecasts Tuesday.

— Medtronic Inc., the medical device maker, reported better-than-expected fourth quarter earnings on sales of implantable heart defibrillators and pacemakers.

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