11:16 AM EDT, 08/29/2024 (MT Newswires) -- (Updates with the latest stock movement in the headline and the first paragraph.)

Best Buy ( BBY ) shares rose 16% in recent Thursday trading after the consumer electronics retailer reported higher fiscal Q2 non-GAAP earnings per diluted share from a year earlier and raised its fiscal 2025 non-GAAP diluted EPS guidance.

The company reported fiscal Q2 adjusted earnings of $1.34 per diluted share, up from $1.22 a year earlier.

Analysts polled by Capital IQ expected $1.16.

Revenue for the quarter ended Aug. 3 was $9.29 billion, compared with $9.58 billion a year earlier.

Analysts surveyed by Capital IQ expected $9.25 billion.

The company said it expects fiscal-year 2025 adjusted earnings of $6.10 to $6.35 per diluted share, compared with $5.75 to $6.20 previously. Analysts polled by Capital IQ expect $6.10.

The company expects revenue for the year of $41.3 billion to $41.9 billion, compared with prior guidance of $41.3 billion to $42.6 billion. Analysts surveyed by Capital IQ expect $41.79 billion.

The company also maintained a quarterly cash dividend of $0.94 per common share, payable on Oct. 10 to shareholders of record on Sept. 19.

Price: 102.07, Change: +14.28, Percent Change: +16.27