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The quarterly report of the world's largest electronics retailer, Best Buy, for the three months to February 2 showed a 2-fold net profit growth compared with the same period a year earlier to $735 million. Adjusted earnings of 2 dollars 72 cents per share surpassed economists' forecasts of 2 dollars 56 cents per share. Revenue also turned out to be higher than forecast, reaching $14 billion 801 million. Its annual growth was at the level of 3.7%. Best Buy stores, opened at least 14 months ago, increased sales by 3%, while experts had predicted an increase of 1.8%. The financial year, which also ended on February 2, also brought good financial results to the company. Revenue rose to 42 billion 880 million dollars, adjusted earnings - up to 5 dollars 32 cents per share.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
Spain’s unemployment rose to 15.33% for the second quarter of 2020, according to Tuesday’s data from the National Statistics Institute amid the worsening COVID-19 situation in the country. The unemployment rate surged past the ...
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