Best Buy Co. Inc
Q3 2026 Earnings
Market Reaction
S&P 500 over the same 30 days: +1.90%.
Did BBY Beat Earnings? Q3 2026 Results
Best Buy closed out its fiscal third quarter of 2026 on a stronger note than Wall Street had anticipated, posting adjusted diluted EPS of $1.40 against a consensus estimate of $1.31 — a 6.65% beat — while revenue of $9.67 billion edged past expectations by 0.83% and grew 2.4% year over year. The primary engine behind the outperformance was a 2.7% comparable sales gain, a meaningful reversal from the 2.9% decline recorded in the year-ago period, led by robust demand in computing, gaming, and mobile phones. <a href="https://247wallst.com/investing/2026/03/03/best-buys-leaner-cost-structure-drives-post-earnings-rally/">SG&A leverage</a> helped lift the adjusted operating income rate to 4.0% from 3.7% a year earlier, even as product margin rates dipped. The quarter wasn't without a shadow — $192 million in non-cash impairment charges tied to Best Buy Health weighed on GAAP EPS, signaling real headwinds in its healthcare ambitions. Still, management raised its full-year guidance, now targeting revenue of $41.65 billion to $41.95 billion and adjusted EPS of $6.25 to $6.35, reflecting measured confidence heading into a pivotal holiday season.
- Computing, gaming, and mobile phones drove comparable sales growth
- Domestic comparable sales grew 2.4%, International comparable sales grew 6.3%
- Domestic online revenue increased 3.5% on a comparable basis to $2.82 billion
- Online revenue represented 31.8% of total Domestic revenue vs 31.4% last year
- Adjusted SG&A as a percentage of revenue improved to 19.2% from 19.8% in Domestic segment
- International gross profit rate improved to 22.8% from 22.5% due to favorable supply chain costs
- Domestic computing and mobile phones comparable sales grew 7.6%
- Domestic entertainment comparable sales grew 14.0%
- International entertainment comparable sales grew 11.3%
- International computing and mobile phones comparable sales grew 9.2%
“We are pleased to report better-than-expected sales and adjusted operating income rate for the third quarter. Our comparable sales grew 2.7% as we continued to drive strong results across computing, gaming and mobile phones. We delivered sales growth across both online and stores, saw continued improvements in customer experience ratings and launched our Best Buy Marketplace.”
Best Buy CEO, on the earnings call
Forward Guidance & Outlook
Best Buy raised its FY26 guidance: revenue of $41.65 billion to $41.95 billion (up from $41.1B-$41.9B); comparable sales growth of 0.5% to 1.2% (up from -1.0% to 1.0%); adjusted operating income rate of approximately 4.2% (unchanged); adjusted effective income tax rate of approximately 25.4% (up from 25.0%); adjusted diluted EPS of $6.25 to $6.35 (up from $6.15-$6.30); capital expenditures of approximately $700 million (unchanged). For Q4, the company expects comparable sales growth of -1.0% to 1.0% and adjusted operating income rate of 4.8% to 4.9%.
BBY YoY Financials
BBY Revenue by Segment
BBY Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.