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Best Buy Shares Explode Higher

Sam RoNov 20, 2014, 18:31 IST

Best Buy shares are up 10% in pre-market trading after the company reported a great quarter.

The electronics retailer reported earnings of $0.32 per share, beating expectations for $0.25.

This was driven by 2.2% comparable store sales growth. Analysts had forecast 2.0% growth.

"The sales trends we are seeing in our business as we enter the fourth quarter are encouraging from a top-line perspective," CFO Sharon McCollam said.