Best Buy's quarterly revenue falls 4.1 pct

[February 25, 2016] 

(Reuters) - Best Buy Co Inc <BBY.N>, the biggest U.S. consumer electronics retailer, reported a 4.1 percent decline in quarterly revenue, hurt by weak demand for mobile phones and computing products.

The company also said it would buy back up to $1 billion in shares over the next two years and it announced a special dividend of 45 cents per share.

Best Buy's net income fell to $479 million, or $1.40 per share, in the fourth quarter ended Jan. 30 from $519 million, or $1.46 per share, a year earlier.

Revenue fell to $13.62 billion from $14.21 billion.

(Reporting by Abhijith G in Bengaluru; Editing by Kirti Pandey)

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