Best Buy (NYSE: BBY) reported earnings on May 22. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended May 5 (Q1), Best Buy met expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue increased and GAAP earnings per share increased significantly.

Gross margins contracted, operating margins grew, net margins increased.

Revenue details
Best Buy logged revenue of $11.61 billion. The 16 analysts polled by S&P Capital IQ expected a top line of $11.50 billion on the same basis. GAAP reported sales were 6.1% higher than the prior-year quarter's $10.94 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $0.72. The 19 earnings estimates compiled by S&P Capital IQ predicted $0.60 per share. GAAP EPS of $0.46 for Q1 were 35% higher than the prior-year quarter's $0.34 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 25.0%, 30 basis points worse than the prior-year quarter. Operating margin was 3.4%, 80 basis points better than the prior-year quarter. Net margin was 1.4%, 20 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $10.74 billion. On the bottom line, the average EPS estimate is $0.33.

Next year's average estimate for revenue is $49.97 billion. The average EPS estimate is $3.61.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,129 members out of 1,174 rating the stock outperform, and 47 members rating it underperform. Among 280 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 270 give Best Buy a green thumbs-up, and 10 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Best Buy is hold, with an average price target of $27.64.

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