Best Buy beats profit, sales expectations

Best Buy Co. reported better-than-expected results for its first quarter, helped by strong sales of large-screen TVs, phones and appliances in its U.S. business.

Earnings were $129 million, or 36 cents per share, down from $461 million, or $1.31 per share, a year earlier. Revenue edged down slightly to $8.56 billion.

Analysts polled by Thomson Reuters projected 29 cents a share in earnings and $8.46 billion in revenue, according to the Wall Street Journal.

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