Best Buy Trading over 8% Higher after Reporting Upbeat Earnings

Best Buy Co Inc BBY reported better-than-expected fiscal first-quarter profit on Tuesday. Best Buy's profit dropped to $136 million, or $0.35 per share, from $155 million, or $0.36 per share, in the year-earlier quarter. Its sales surged 1.4% to $10.9 billion. Best Buy's comparable sales declined 1.7%. However, analysts were expecting earnings of $0.33 per share on revenue of $10.70 billion. Read more here.