Best Buy beats quarterly estimates and hikes its outlook, but stock falls

Best Buy announced fiscal second-quarter results that exceeded Wall Street expectations and prompted the company to raise its financial outlook for the full year. The consumer electronics retailer reported comparable sales growth of 4.1% during the period, significantly outperforming its prior guidance of 1%. The company also achieved an adjusted operating income rate that came in higher than anticipated, driven by strength across major product categories with particularly strong performance in