US electronics retailer Best Buy has raised its full-year sales guidance after reporting stronger-than-expected demand for laptops, gaming consoles and mobile phones, signalling resilience among tech shoppers despite broader economic pressures.

For the quarter ending 1 November, Best Buy’s comparable sales, which covers stores, digital channels and call centres operating for at least 14 months, rose 2.7% – its strongest quarterly growth since 2021.

Overall revenue increased 2.4% to US$9.67 billion, while net income fell to US$140 million from US$273 million a year earlier, partly due to a US$171 million impairment.

Best Buy Chief Executive Corie Barry said customers are being selective but willing to spend on high-value or innovative products.

“If shoppers feel they are getting a good value, they are willing to spend when they need to or when there is innovation,” Barry said.

The retailer is seeing particularly strong demand from new gaming consoles, updated laptops and the ongoing natural replacement cycle for personal computers bought during the pandemic.

Best Buy, like JB Hi-Fi in Australia, targets younger and lower-income shoppers with more affordable electronics options.

Barry noted that while around 60% of US consumers are spending cautiously, they still respond to deals or essential purchases.

The retailer has been expanding its omnichannel offerings, including a third-party marketplace launched in August, immersive in-store tech experiences such as Meta AI glasses demos and AI-powered customer support and product search tools.

Barry said Best Buy is exploring further agentic AI applications, including potential integrations with checkout and services, while keeping the customer experience front-of-mind.

Following the quarterly results, Best Buy raised its fiscal 2026 revenue guidance to US$41.65–41.95 billion, up from the previous US$41.1–41.9 billion range.

Comparable sales growth is now expected between 0.5% and 1.2%, compared with an earlier forecast of a slight decline to 1% growth. The company also announced a US$0.95 quarterly dividend payable in January 2026.

Shares rose 4.4% in morning trading.