Earnings update: Best Buy (NYSE:BBY) Posts Mixed Results – AMZN, WMT, WSM, RAD, EDGR, MPEL, LUV, AEO

Best Buy Co., Inc. (NYSE:BBY) announced on Tuesday that its fiscal Q1 profit dropped to $158 million, or 46 cents per share, as compared to $212 million, or 53 cents per share a year before.

On a revised basis, the firm announced earnings per share of 72 cents. Revenue at the electronics retailer rose to $11.61 billion, as compared to $11.37 billion a year before.

The company had 342.8 million outstanding shares in the most recent quarter, as compared to $400.7 million a year earlier.

Analysts surveyed by FactSet Research had anticipated the company to earn 59 cents per share on sales of $11.50 billion for the most recent quarter.

Its competitors include Amazon.com, Inc. (NASDAQ:AMZN) that slipped -0.50% to $217.01 with the total traded volume of 1.39 million shares and Wal-Mart Stores, Inc. (NYSE:WMT) that moved up 0.73% to $63.50 with the total traded volume of 2.78 million shares.

Other services stocks with bullish trend include Williams-Sonoma, Inc. (NYSE:WSM) up 4.15% to $36.17, Rite Aid Corporation (NYSE:RAD) up 6.35% to $1.34 and EDGAR Online, Inc. (NASDAQ:EDGR) up 48.618% to $1.07, whereas with bearish trend include Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL) down -0.88% to $12.38, Southwest Airlines Co. (NYSE:LUV) down -0.48% to $8.30 and American Eagle Outfitters (NYSE:AEO) down -0.96% to $20.14.

Best Buy Co., Inc. (NYSE:BBY) surged 1.82% or +$0.33 to trading at $18.50 at 11:03AM EDT following it hit intraday high level of $18.86. The total traded volume in the current trading session is 10.55 million shares as compared to average 8.47 million shares. Its fifty two week trading range is $17.53 – $32.85. The total market capitalization reached $6.33 billion.

The stock price was ahead its 52 week low price with 3.82% and it lagged behind -43.16% from its 52 week maximum mark. Stock price volatility for last month remained 2.90%. In its share capital, the company has 342.20 million outstanding shares out of which 271.34 million shares have been floated in the market. For now, stock ownership with company’s management remained 0.82%.

BBY presented a negative weekly performance of -7.11% with respect to its rate of return and it remained -15.37% for the month. However, the performance for a quarter experienced a negative change of 29.35% and it slumped -40.50% for a year and its year to date performance remained in red with -21.68%.

Current stock price is in the downbeat territory taking into account of 20 days moving average with -11.12% and continued bearish run for 50 days moving average with -19.20%. Its earning per share for the past twelve months was -$3.21. Company’s beta coefficient was at 1.30. Beta measures the amount of market risk associated with market trade.

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