Best Buy Delivers Earnings Beat Helped by Sales of Computers, TVs

Shares of Best Buy are climbing in Thursday trading after the electronics retailer posted better-than-expected third quarter earnings. Best Buy said it earned $0.32 a share, excluding items, on revenue of $9.38 billion. Analysts expected the company to report earnings of $0.25 a share on $9.33 billion in revenue, according to Thomson Reuters. Sales were driven by computers, video games, TVs and appliances. Best Buy has been cutting costs and revamping stores in effort to improve results. CFO Sharon McCollam called sales trends entering the fourth quarter 'encouraging' but said there are 'internal and external factors' that could put pressure on the company's operating income rate.