Best Buy (BBY) Revenue — Quarter Ended Apr 29, 2023
Revenue decreased from the immediately preceding quarter and also declined compared with the same quarter one year earlier. The trend shows a continuous drop in revenue over the trailing four quarters.
Key takeaway
Quarter ended Apr 29, 2023 · FY2024 Q1
Revenue decreased from the immediately preceding quarter and also declined compared with the same quarter one year earlier. The trend shows a continuous drop in revenue over the trailing four quarters.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$9.5B
Revenue reported for this quarter.
Quarter-over-quarter
-35.8%
Change from the immediately preceding quarter.
Year-over-year
-11.1%
Change from the comparable year-ago quarter.
Trailing four quarters
$45.1B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jul 30, 2022 | $10.3B | -12.8% |
| Oct 29, 2022 | $10.6B | -11.1% |
| Jan 28, 2023 | $14.7B | -10.0% |
| Apr 29, 2023 | $9.5B | -11.1% |
Revenue performance
Revenue direction is downward for the quarter. The sequential decline is substantially larger than the year-over-year decline, indicating a sharper contraction from the prior quarter.
Quarterly comparison
Compared with the immediately preceding quarter, revenue fell notably. Compared with the same quarter one year earlier, revenue also decreased, but by a smaller proportion relative to the sequential drop.
What to watch
The sequential revenue decline is sharper than the year-over-year decline, which may warrant monitoring of short-term demand trends.