Best Buy BBY is plunging 10% in pre-market trading after the company badly missed earnings and lowered guidance for 2011.
Best Buy just reported earnings of 54 cents per share versus Wall Street estimates of 61 cents per share. Revenues came in at $11.89 billion versus the $12.47 billion Wall Street was expecting.
2011 earnings guidance was also cut. It lowered EPS guidance from $3.55-$3.70 per share to $3.20-$3.40 per share. Wall Street estimates $3.59 per share in earnings for 2011.
At last check, shares of Best Buy were plunging, down 9% to $37.95, a loss of $3.75 per share.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in