Best Buy Co. Inc. (NYSE:BBY) on Thursday reported better-than-expected second-quarter results and raised its full-year outlook.

Best Buy reported adjusted earnings of $1.47 per share, beating the consensus estimate of $1.38. Sales increased 3.6% year over year to $9.78 billion, topping the $9.59 billion estimate.

Best Buy raised its fiscal 2027 adjusted earnings outlook to $6.70 to $6.90 per share, up from $6.30 to $6.60. The revised range also topped the $6.58 consensus estimate. The company increased its sales forecast to $42.3 billion to $42.8 billion from $41.2 billion to $42.1 billion. Analysts expect sales of $42.06 billion.

“We are very pleased to report we outperformed expectations in the second quarter with comparable sales growth of 4.1% and a higher-than-expected adjusted operating income rate,” said Corie Barry, Best Buy CEO. “We drove growth across almost all our major product categories as well as continued strong performance in our Best Buy Ads and Marketplace initiatives.”

Best Buy shares fell 1.7% to trade at $82.17 on Friday.

These analysts made changes to their price targets on Best Buy following earnings announcement.

• Goldman Sachs analyst Kate McShane maintained the stock with a Sell and raised the price target from $62 to $71.
• Guggenheim analyst Steven Forbes maintained the stock with a Buy and raised the price target from $90 to $95.

Considering buying BBY stock? Here’s what analysts think:

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