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BRIEF-Best Buy reports Q3 earnings $0.78/shr
November 16, 2017 / 12:19 PM / a month ago

BRIEF-Best Buy reports Q3 earnings $0.78/shr

Nov 16 (Reuters) - Best Buy Co Inc

* Best Buy reports third quarter results

* Q3 earnings per share $0.78 from continuing operations

* Q3 earnings per share view $0.78 -- Thomson Reuters I/B/E/S

* Sees Q4 2018 non-GAAP earnings per share $1.89 to $1.99

* Best Buy Co Inc - ‍raising FY18 financial outlook​

* Qtrly ‍enterprise comparable sales increased 4.4%​

* Best Buy Co Inc - ‍planning to spend approximately $2 billion on share repurchases this fiscal year, versus our original expectation of $1.5 billion​

* Best Buy Co Inc - ‍raising full year revenue growth outlook to 4.0% to 4.8%​

* Best Buy Co Inc - ‍raising FY non-GAAP operating income growth outlook to 7.0% to 9.5%​

* Best Buy Co Inc - qtrly enterprise revenue ‍​$9,320 million versus $8,945 million

* Best Buy Co Inc - ‍sees FY18 enterprise revenue of $41.0 billion to $41.3 billion, or growth of 4.0% to 4.8%​

* Best Buy Co Inc sees ‍on a 52-week basis, enterprise revenue growth of approximately 3.0% for fy18​

* Best Buy Co Inc sees ‍on a 52-week basis, enterprise non-GAAP operating income growth rate of 3.0% to 6.5% for fy18​

* Best Buy Co - ‍“despite our moderate expectations for mobile phone launches in quarter, revenue in mobile category was materially lower than expected”​

* Best Buy Co Inc - ‍estimate that related costs from natural disasters negatively impacted eps by approximately $0.03​ in quarter

* Best Buy Co Inc - ‍estimate loss of revenue by natural disasters​ impacted enterprise comparable sales by 15 to 20 basis points in quarter

* Best Buy Co Inc sees ‍international comparable sales change of flat to 3.0% for q4

* Best Buy Co Inc - qtrly ‍revenue in mobile category was materially lower than expected due to fact that a major new phone did not launch until November​

* Best Buy Co Inc - revenue impact in quarter was more than $100 million​ due to fact that a major new phone did not launch until November Source text for Eikon: Further company coverage:

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