Best Buy shatters profit expectations in summer months

Best Buy said its fiscal second-quarter profit rose 11.6 percent, beating analysts’ forecasts and driven by strong sales in appliances, big TVs and mobile phones.

The company’s profit of 49 cents per adjusted share far exceeded the 34 cents analysts were expecting.

It shares rose 12 percent in pre-market trading indications after the news.

http://www.startribune.com/best-buy-shatters-profit-expectations-in-summer-months/322791451/