While Best Buy might have beat on profits, the electronics retailer saw sales drop in the third quarter.
Best Buy saw enterprise revenue drop from $9.03 billion in the company’s fiscal third quarter to $8,819 billion in the most recent fiscal third quarter.
Meanwhile GAAP diluted earnings per share was up from $0.33 in the year-ago quarter to $0.37 in the most recent period.
The company said domestically it was seeing comparable sales growth in computing, major appliances, health & wearables and large-screen televisions but added that growth was partially offset by declines in tablets, mobile phones and digital imaging.
The company also saw continued revenue declines in services, which was almost entirely due to the reduction of frequency and severity of claims on extended warranties, which has reduced repair revenue, and to a much lesser extent, declining attach rates of traditional warranty plans.
Shares of Best Buy were off in early trading by 4.3 percent to $29.95.
