India, May 29 -- Electronics retailer Best Buy Co., Inc. (BBY) reported Thursday a net profit for the first quarter that declined from last year, hurt by higher restructuring charges and lower revenues. Earnings per share topped analysts' estimates, but quarterly revenues missed it. The companies also trimmed its guidance for the full-year 2026 to reflect the impact of tariffs.
In pre-market trading, Best Buy shares are down $2.12 or 2.96 percent at $69.40 on the NYSE.
For the first quarter, Best Buy reported net earnings of $202 million or $0.95 per share, down from $246 million or $1.13 per share in the prior-year quarter, hurt by higher restructuring charges.
Excluding items, adjusted earnings for the quarter was $1.15 per share, comp...