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Best Buy Tops Bottom Line Estimates on Smartphone Sales, $BBY

Best Buy Co. (BBY), the largest U.S. consumer-electronics retailer, reported first-quarter profit that exceeded analysts’ estimates, helped by demand for smartphones.

Net income fell 25 percent to $158 million, or 46 cents a share, from $212 million, or 65 cents, a year earlier, the Richfield, Minnesota-based company said today in a statement. Profit excluding restructuring costs totaled 72 cents a share. Analysts projected 59 cents, the average of 22estimates compiled by Bloomberg.”

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