11:58 AM EDT, 05/29/2025 (MT Newswires) -- (Updates to include Best Buy's ( BBY ) recent stock movement in the headline and the first paragraph.)

Best Buy ( BBY ) shares were down 9% in recent Thursday trading after the company reported lower fiscal Q1 adjusted earnings and revenue year over year, with sales for the quarter falling short of market expectations.

The company reported fiscal Q1 adjusted earnings of $1.15 per diluted share, down from $1.20 a year earlier.

Analysts polled by FactSet expected $1.09.

Revenue for the quarter ended May 3 was $8.77 billion, down from $8.85 billion a year earlier.

Analysts surveyed by FactSet expected $8.81 billion.

The electronics retailer updated its fiscal 2026 adjusted earnings guidance to a range of $6.15 to $6.30 per diluted share from its previous guidance of $6.20 to $6.60. Analysts surveyed by FactSet expect $6.13.

Best Buy ( BBY ) also updated its fiscal 2026 revenue guidance to a range of $41.1 billion to $41.9 billion from its previous guidance of $41.4 billion to $42.2 billion. Analysts polled by FactSet expect $41.38 billion.

Price: 65.12, Change: -6.41, Percent Change: -8.96