Best Buy reported fiscal first quarter earnings that missed revenue estimates but beat on EPS and reaffirmed full-year guidance. Comparable sales and online sales fell over 6 overall as demand for consumer electronics remained soft. Profits were supported by cost-cutting measures like layoffs and trimmed capital expenditures. The company expects sales trends to improve over the next 3 quarters gradually but macro headwinds from inflation remain a challenge. Shares jumped 10 on the results.