Best Buy Earnings Rise 21% in 3Q

Updated: Fri 10:39 AM, Apr 01, 2005

Best Buy says third-quarter earnings rose 21 percent, but hinted that holiday season profits may fall short of what analysts are predicting.

The nation's largest electronics retailer predicted fourth-quarter earnings at the low end of analyst estimates, partly because more discounts are being offered.

Best Buy predicted fourth-quarter earnings of $1.56 to $1.66 a share.

That would be 13 percent higher than last year.

Analysts are expecting $1.62 per share.

For the three months ending on November 27, Best buy earned $148 million, or 45 cents per share. Best Buy operates stores in Eau Claire and La Crosse, and is headquartered in the Twin Cities.

That number is up from $122 million, or 37 cents per share in last year's third quarter.

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