Best Buy (BBY) Q1 Sales Beat Estimates as Gaming, AI Glasses Drive Demand; Stock Jumps

Best Buy Co. (NYSE:BBY) reported stronger-than-expected first-quarter results for the period ended May 2026, sending shares sharply higher. Revenue rose 1.9% year-over-year to $8.94 billion, surpassing analysts’ forecasts. The electronics retailer also posted non-GAAP earnings per share of $1.28, a 4.3% beat. Comparable sales growth was fueled by robust demand for gaming, mobile phones, and emerging technology categories such as AI glasses and 3D printers, CEO Corie Barry said. The company also attributed the outperformance to expanded marketplace offerings and targeted promotions. Full-year revenue guidance of approximately $41.65 billion was maintained, in line with estimates. Looking ahead, CEO-elect Jason Bonfig highlighted plans to launch exclusive RGB TV technology and expand small-format stores, while accelerating the shift toward a media and advertising-driven business model. Best Buy shares closed at $77.75, up from $64.95 before the earnings release.