Best Buy Co., Inc. (NYSE:BBY) shares moved higher on Thursday after the retailer delivered a better-than-expected quarterly performance.

• Best Buy Co. shares are climbing with conviction. What’s driving BBY stock higher?

Quarterly Metrics

The company reported first-quarter adjusted earnings per share of $1.28, beating the analyst consensus estimate of $1.23. Quarterly sales of $8.94 billion surpassed the Street view of $8.83 billion.

Adjusted operating income rate was 4.1%, expanding 30 basis points year over year. It is primarily driven by SG&A leverage from higher revenue.

Segment Details

Enterprise revenue of $8.9 billion, up 1.9% year-over-year and ahead of expectations, with comparable sales rising 2% Y/Y.

Domestic revenue reached $8.2 billion, with comparable sales up 1.8% Y/Y. This is led by strength in gaming, computing, mobile phones, and services.

Online sales accounted for 32% of ...