American consumer electronics retailer Best Buy Inc. (BBY) delivered better-than-expected third-quarter results. Despite the ongoing supply chain problems, the company managed to beat expectations on both its top and bottom lines with effective execution and management. However, shares plummeted 12.3% as the management warned of margin compression from rising thefts. Investors were also disappointed with the conservative Q4 guidance despite the holiday season. Shares closed at $121.01 on November 23.   Better-Than-Expected Results The company reported earnings of $2.08 per share, up a modest 1% against the prior-year quarter, and 18 cents higher than analysts' estimates of $1.90 per share. Furthermore, revenue remained relatively flat at $11.
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Best Buy (NYSE:BBY)
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