Best Buy (BBY) reported 1st Quarter April 2021 earnings of $2.23 per share on revenue of $11.6 billion. The consensus earnings estimate was $1.45 per share on revenue of $10.2 billion. The Earnings Whisper number was $1.55 per share.
Revenue grew 35.9% on a year-over-year basis.
Best Buy Beats
The stock is seeing a positive response to “earnings and guidance” this morning. Look for the trend to continue if traders and investors manage a close above the 50d. Price action is currently bouncing around in the blue zone.
Stochastic and MACD are set to run higher. RSI will pierce the 50-zone, suggesting further bullish action in the coming days/weeks.
We’ll watch for follow-through this morning during the LIVE broadcast. Provided a bullish “market” and retail sector strength we’ll also watch for the following.
- RVOL should be above 2.0
- Price action should remain above VWAP