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Best Buy's quarterly revenue falls 4.1 pct

2016-02-25 1 Dailymotion

Best Buy Co Inc , the biggest U.S. consumer electronics retailer, reported a 4.1 percent decline in quarterly revenue, hurt by weak demand for mobile phones and computing products.<br />The company also said it would buy back up to $1 billion in shares over the next two years and it announced a special dividend of 45 cents per share.<br />Best Buy's net income fell to $479 million, or $1.40 per share, in the fourth quarter ended Jan. 30 from $519 million, or $1.46 per share, a year earlier.<br />Revenue fell to $13.62 billion from $14.21 billion.

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