Costs cuts boost Best Buy's quarterly profit

Thu Feb 27, 2014 7:22am EST

Feb 27 (Reuters) - Best Buy Co Inc, the world's largest consumer electronics chain, on Thursday reported a quarterly profit on lower costs.

Net earnings from continuing operations were $310 million, or 88 cents a share, in the fourth quarter ended on Feb. 1, compared with a net loss of $461 million, or $1.36 a share, a year earlier.

Excluding special items, the company earned $1.24 a share.

Analysts on average were looking for a profit of $1.01 a share, according to Thomson Reuters I/B/E/S.

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