Best Buy Co. Inc. said its normalized net income for the fiscal first quarter ended May 3 amounted to 33 cents per share, compared with the S&P Capital IQ consensus estimate of 20 cents per share.
EPS climbed 17.2% year over year from 28 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $114.4 million, a gain of 20.4% from $95.0 million in the prior-year period.
The normalized profit margin climbed to 1.4% from 1.0% in the year-earlier period.
Total revenue fell year over year to $9.04 billion from $9.35 billion, and total operating expenses fell year over year to $8.84 billion from $9.17 billion.
Reported net income rose year over year to $459.0 million, or $1.31 per share, from $98.9 million, or 29 cents per share.