Best Buy Shares Explode Higher (BBY)

<img style="float:right;" src="http://static2.businessinsider.com/image/546de4996da8112b4f3cffdb-718-538/people-walk-past-a-best-buy-store-in-new-york-august-21-2012-reutersbrendan-mcdermid.jpg" alt="People walk past a Best Buy store in New York August 21, 2012. REUTERS/Brendan McDermid " border="0">

Best Buy shares are up 10% in pre-market trading after the company reported a great quarter.

The electronics retailer reported earnings of $0.32 per share, beating expectations for $0.25.

This was driven by 2.2% comparable store sales growth. Analysts had forecast a 2.0% drop.

"The sales trends we are seeing in our business as we enter the fourth quarter are encouraging from a top-line perspective," CFO Sharon McCollam said.

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