Best Buy's Q3 revenue is $9.45 billion, and it lowers its full-year performance forecast

It is learned that on November 26, the US retail giant Best Buy released its third-quarter financial report for fiscal year 2025. As of November 2, Best Buy's third-quarter revenue was US$9.45 billion.

Here's a summary of Best Buy's third-quarter financial results:

Revenue was $9.45 billion, compared to $9.76 billion in the same period last year

U.S. domestic revenue was $8.69 billion, down 3.3% year-on-year

AOL revenue was $2.73 billion, down 1.0% year-over-year

Gross margin for U.S. business was 23.6%, compared with 22.9% in the same period last year

International revenue was $750 million, down 1.6% year-over-year

The gross profit margin of international business was 22.5%, compared with 22.1% in the same period last year

Best Buy CEO Corie Barry said that Best Buy achieved non-GAAP operating profit margins in line with expectations in the third quarter, but sales were slightly lower than expected. The second half of the quarter was affected by multiple factors, including continued macroeconomic uncertainty, consumers delaying purchases to wait for promotions, and market disruptions on the eve of the election (especially in non-essential categories). However, with the start of the holiday sales season and the end of the election, Best Buy observed a rebound in customer demand in the first few weeks of the fourth quarter.

Looking ahead, Best Buy expects comparable sales to be flat or down 3% year-over-year in the fourth quarter of fiscal 2025, with non-GAAP operating margins between 4.6% and 4.8%. For the full year of fiscal 2025, revenue is expected to be $41.1 billion to $41.5 billion, compared with a previous forecast of $41.3 billion to $41.9 billion, and comparable sales are expected to fall 3.5% to 2.5%, compared with a previous forecast of a decline of 3.0% to 1.5%.

Author ✎ Rayna/

Statement: This article is copyrighted and may not be reproduced without permission. If you need authorization, please contact: happy