Best Buy: Fiscal Q4 Earnings Snapshot

RICHFIELD, Minn. (AP) — RICHFIELD, Minn. (AP) — Best Buy Co. (BBY) on Thursday reported fiscal fourth-quarter profit of $460 million.

On a per-share basis, the Richfield, Minnesota-based company said it had net income of $2.12. Earnings, adjusted for restructuring costs and amortization costs, came to $2.72 per share.

The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $2.51 per share.

The consumer electronics retailer posted revenue of $14.65 billion in the period, which also beat Street forecasts. Eleven analysts surveyed by Zacks expected $14.52 billion.

For the year, the company reported profit of $1.24 billion, or $5.68 per share. Revenue was reported as $43.45 billion.

Best Buy expects full-year earnings in the range of $5.75 to $6.20 per share, with revenue in the range of $41.3 billion to $42.6 billion.

Best Buy shares have increased roughly 2% since the beginning of the year, while the S&P's 500 index has risen slightly more than 6%. The stock has dropped 4% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BBY at https://www.zacks.com/ap/BBY