MINNEAPOLIS (AP) -- Best Buy Co. said Tuesday that its second-quarter earning fell 27 percent because of a slowdown in consumer spending since July, particularly in prerecorded music and home office products.
Best Buy earned $62 million, or 19 cents a share, in the quarter ended Aug. 31, down from $85 million, or 26 cents a share, a year earlier.
The earnings beat by a penny the average estimate of brokers surveyed by First Call.
Best Buy shares rose 8 percent, or $1.97, to $26.06 in morning trading on the New York Stock Exchange.
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