Why Best Buy Stock Jumped Today

Best Buy shares rallied 15.8% after the retailer exceeded profit expectations with adjusted earnings of $1.28 per share versus Wall Street estimates of $1.23. Despite challenging economic conditions and weak consumer sentiment, Best Buy grew revenue 2% year-over-year to $8.9 billion in Q1 fiscal 2027, driven by strong gaming, computing, and mobile phone sales. The company improved its gross margin to 23.7% and is on track to meet full-year targets of $41.2-$42.1 billion in revenue and $6.30-$6.60 in adjusted EPS.