Best Buy Profit Drops
Best Buy on Tuesday reported a profit that dropped 15 percent from the same period the year before, as the "Circuit City effect" proved short-lived.
The company posted a profit of $123 million, down from the previous year's $179 million. The company's revenue actually rose to just over $10 billion, with mobile phones and laptop computers among growth categories.
According to the AP, the performance was actually ahead of analyst predictions.