The retailer's net income for the quarter reached $291 million, or $1.34 per share, compared to $274 million, or $1.25 per share, a year earlier.

Best Buy has raised its annual profit forecast and reported better-than-expected financial results for its fiscal second quarter of 2025.

Following the announcement, Best Buy's shares surged over 15%, reflecting strong investor confidence.

Despite the positive earnings, comparable sales declined by 2.3%, although this was an improvement from a 6.2% decline a year ago.

CEO Corie Barry highlighted mixed consumer behavior, noting that while customers are seeking value, they are also willing to spend on high-priced items when necessary.

However, the company has lowered the top end of its revenue guidance for the fiscal year to between $41.3 billion and $41.9 billion.

There is a noticeable increase in consumer interest in upgrading laptops and tablets, indicating a shift in spending patterns after a period of restraint.

While tablet and computer sales showed positive growth, the overall decline in comparable store sales remains a concern.

Best Buy is focusing on enhancing its digital channels and operational efficiency to adapt to changing consumer demands.

Best Buy is undergoing a turnaround amid a two-year sales slump, facing challenges from reduced consumer demand due to inflation and post-pandemic conditions.

The positive market reaction to Best Buy's results suggests growing confidence in the company's ability to navigate the current retail landscape.

The company has raised its guidance, indicating strong future performance driven by better execution and strategic initiatives.