Best Buy posts surprise increase in quarterly sales

Best Buy Co. Inc., one of the few remaining U.S. electronics store operators, reported a surprise increase in quarterly sales, helped by demand for appliances, televisions and mobile phones in the United States.

According to Reuters, net income moved up to $164 million, or  46 cents per share, in the second quarter ended Aug. 1, up from $146 million, or 42 cents per share, a year earlier.

Revenue ticked up 0.8 percent to $8.53 billion. Analysts expected a decrease.

During the quarter, U.S. sales rose 3.9 percent to $7.9 billion.

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