Best Buy profit tops estimates on cost cuts

Tuesday, 19 Nov 2013 | 7:17 AM ET

Nov 19 (Reuters) - Best Buy Co Inc reported a profit in the third quarter on Tuesday, reversing a year-ago loss, boosted by tight cost controls.

The world's largest consumer electronics chain said its net earnings were $54 million, or 16 cents a share, compared with a net loss of $10 million, or 3 cents a share, a year earlier.

Excluding restructuring charges and other items, it earned 18 cents a share, beating the average analyst estimate of 12 cents, according to Thomson Reuters I/B/E/S.

(Reporting by Dhanya Skariachan; Editing by Jeffrey Benkoe)

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