Best Buy: Fiscal Q2 Earnings Snapshot

RICHFIELD, Minn. (AP) — RICHFIELD, Minn. (AP) — Best Buy Co. (BBY) on Thursday reported fiscal second-quarter profit of $315 million.

The Richfield, Minnesota-based company said it had profit of $1.48 per share. Earnings, adjusted for restructuring gains, were $1.47 per share.

The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.37 per share.

The consumer electronics retailer posted revenue of $9.78 billion in the period, which also topped Street forecasts. Nine analysts surveyed by Zacks expected $9.56 billion.

Best Buy expects full-year earnings in the range of $6.70 to $6.90 per share, with revenue in the range of $42.3 billion to $42.8 billion.

Best Buy shares have risen 31% since the beginning of the year, while the S&P's 500 index has increased 12%. The stock has risen 19% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BBY at https://www.zacks.com/ap/BBY