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Why Best Buy Stock Just Sold Off by 4%

TheMotleyFool

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Shares of big box electronics retailer Best Buy (NYSE: BBY) sold off by nearly 6% in early trading Thursday, after reporting Q1 2021 earnings, before climbing back to about a 3.8% loss as of 2:35 p.m. EDT. Curiously, though, Best Buy's earnings were better than expected, not worse.

Heading into earnings, analysts had predicted Best Buy would earn $0.60 per share on sales of $8.35 billion. In actual fact, the company earned $0.67 per share (pro forma) on sales of $8.56 billion.

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Source Fool.com

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