Best Buy Stock Pops After Strong Comparable Sales, Margin Growth

Best Buy shares surged 15.96% after reporting Q1 results that beat expectations. The retailer posted adjusted EPS of $1.28 (vs. $1.23 consensus) and sales of $8.94 billion (vs. $8.83 billion expected). Comparable sales grew 2% year-over-year, with strength in gaming, computing, and mobile. Operating margins expanded 30 basis points, driven by SG&A leverage and gains from advertising/marketplace initiatives. The company reaffirmed FY2027 guidance and authorized a quarterly dividend of 96 cents per share.