Best Buy reported Q3 FY2026 revenue of $9.672 billion and delivered an adjusted operating income (OI) rate of 4.0%, with adjusted diluted earnings per share (EPS) of $1.40, up 11% year over year on an adjusted basis. Enterprise comparable sales rose 2.7% due to strength across computing, gaming and mobile phones, supported by desktop PCs and other categories like wearables and headphones. GAAP net income declined to $140 million, reflecting noncash asset impairments related to Best Buy Health and ongoing investment in growth initiatives, while the adjusted metrics point to improving operating leverage and higher profitability driven by higher revenue and lower-than-expected SG&A. The company reaffirmed a multi-year strategy to strengthen omnichannel leadership and to monetize incremental growth through Best Buy Marketplace and Best Buy Ads, with a meaningful impact on gross margin in the near term as the marketplace scales. The fiscal 2026 guidance contemplates a return to sales growth for the year, a low-to-mid single-digit comparable sales range, and an adjusted operating income rate around 4.2% (with Q4 guidance implying 4.8%–4.9%). Cash flow remained pressured by working capital dynamics (notably inventory buildup) and a negative free cash flow of $287 million in the quarter, leaving liquidity modest (cash and equivalents of $923 million) and net debt of approximately $3.17 billion. Management emphasized ongoing investment in technology, labor productivity, and vendor partnerships to drive long-term profitability and market share growth, particularly through marketplace expansion and retail media.