BBY Best Buy Inc. (NYSE:BBY) earnings report is due this week on Aug. 29 before the market opens. 

The earnings report will be for the fiscal Quarter ending July 2017. According to Zacks Investment Research, based on 12 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.63. The reported EPS for the same quarter last year was $0.57.

Best Buy shares have been surging this year, although many investors thought  it was in big trouble because of threats from Amazon. The stock is up by 55% this year and up by approximately 240% since the company named Hubert Joly as its CEO five years ago.

The main reasons why BBY Best Buy has been surging are the Nintendo Switch console launch and that Best Buy proved Amazon-proof in contrast with Circuit City and RadioShack

Despite the very encouraging data, it is worth mentioning that  BBY stock’s performance is well behind Amazon’s (AMZN) performance. Since August 2012, AMZN stock is up by 300% yet if we account the S&P 500 is up by 75% during the same time frame and while the S&P Retail ETF (XRT) has risen only 25%, BBY Best Buy still showed an astonishing performance.

Coming back to the earnings subject, Jefferies raised Best Buy sales and earnings estimates on Tuesday for the second quarter, citing strength in the video game, appliance and smartphone categories.

“Based on our field checks and other research, we believe Best Buy should be able to grow domestic SSS [same-store sales] at the high end or better than mgmt.’s plan,” analyst Daniel Binder wrote in a note to clients. “We expect Best Buy to benefit from strength in appliances and connected home, however we also expect robust growth in entertainment from the introduction of two gaming consoles in Q1 and mobile to benefit from a full quarter of Samsung S8/S8+ availability.”

“We believe that Best Buy’s entertainment category saw a second consecutive quarter of robust growth driven by the launch of the Nintendo Switch and the 1TB PlayStation Slim Gold console as the company laps fairly significant comparable store sales declines in this category,” he wrote.

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