(Best Buy) Best Buy Co. Inc. announced net revenue of $11.9 billion in the second quarter of the 2022 fiscal year, up from net revenue of $9.9 billion in the same period last year.
The company’s first half-year revenue in the fiscal year was $23.5 billion, an increase from $18.5 billion in the same period last year.
The retailer’s net earnings increased to $734 million in the fiscal year ended 31 July, from $432 million in the corresponding prior year.
The firm recorded a first-half year profit of $1.3 billion in comparison to $591 million in the same period of the 2021 fiscal year.
Best Buy returned $571 million to shareholders in the form of share repurchases and $175 million paid in dividends in the second quarter of the 2022 fiscal year.
The retailer announced a quarterly cash dividend payment of $0.07 per common share due on 5 October for shareholders in the record as of 14 September.
The company is projecting $51 billion-$52 billion in revenue for the fiscal year 2022 and revenue of between $11.4 billion and 11.6 billion in the third quarter.
BBY: NYSE is up +4.63% on pre-market.
