Best Buy Co., Inc. (BBY): Business Model Canvas [Dec-2025 Updated]

You're looking at a legacy retailer trying to prove its staying power in a tough market, right? Well, after two decades analyzing these giants, I can tell you Best Buy Co., Inc.'s late-2025 Business Model Canvas shows they're not just selling TVs anymore; they've pivoted hard into services and digital platforms. Forget just the store footprint; the real value is now in the Geek Squad expertise and the nearly 8 million paid members driving recurring service revenue, all while aiming for an Enterprise Revenue guidance of $41.65 billion to $41.95 billion for FY26. This shift-from box mover to tech partner-is what separates the survivors from the relics, so let's break down exactly how they built this new engine defintely below.

Best Buy Co., Inc. (BBY) - Canvas Business Model: Key Partnerships

You're looking at the backbone of Best Buy Co., Inc.'s operations, which relies heavily on external collaborators to expand assortment, manage logistics, and enhance the in-store experience. These partnerships are critical, especially as the company pushes new revenue streams like the U.S. Marketplace.

Major technology vendors for store-within-a-store concepts

Best Buy Co., Inc. continues to rely on deep relationships with major technology manufacturers to create compelling in-store experiences, often referred to as store-within-a-store concepts. These vendor collaborations help drive traffic and showcase the latest innovations directly to the customer. While specific store-within-a-store financial breakdowns aren't public, CEO Corie Barry highlighted team-ups with brands like Tesla, Lovesac, and Starlink for merchandising experiences in the recent past. You see this strategy reflected in the overall health of the business, as strong vendor partnerships were cited as a driver for the 1.6% comparable sales growth in the second quarter of fiscal year 2026.

Also, the company's Supply Chain Partner+ program includes key mobile and electronics giants like Samsung, allowing for integrated fulfillment capabilities where some suppliers let their online customers pick up purchases at Best Buy stores.

Strategic vendor agreements for in-store expert labor (e.g., Samsung, Verizon)

Vendor involvement extends beyond product placement to the labor supporting the sales floor. Best Buy Co., Inc. has established clear guidelines for both Second-Party Vendor teams (the vendor's own W-2 employees) and Approved Third-Party Providers working in its locations. These provided labor teams are essential for managing and enhancing the customer experience. To ensure compliance and quality, any Approved Third-Party Provider must procure Umbrella insurance coverage of not less than $10,000,000 dollars. Furthermore, vendors contribute financially to these in-store efforts; in the fourth quarter of fiscal year 2025, the company logged about $20 million in vendor funding that offset some selling, general, and administrative expenses, covering things like specialized labor, displays, and merchandising programs.

Logistics partners for fulfillment and installation services

Moving products efficiently is non-negotiable, and Best Buy Co., Inc. leans on specialized third-party logistics (3PL) providers. For instance, Texas Logistics and Fulfillment announced a landmark three-year contract in March 2025 to manage the storage, distribution, and returns of all furniture for the retailer's 1,051 stores across the United States. Other partners, like Buske Logistics, focus on streamlining fulfillment for both bulk store shipments and direct-to-consumer (DTC) orders via BestBuy.com, ensuring vendors meet complex compliance standards to avoid penalties.

The company is also investing in its own infrastructure, opening its 20th delivery distribution center in Lancaster, Texas, to support faster shipping and store replenishment.

Bell Canada collaboration for 167 Best Buy Express locations

In Canada, the partnership with Bell Canada is a major strategic move to expand physical reach. This collaboration involves rebranding 165 locations of The Source (a Bell subsidiary) into small-format Best Buy Express stores, with a total of 167 locations planned. These stores offer Best Buy Co., Inc. tech alongside exclusive wireline and wireless services from Bell, Virgin Plus, and Lucky Mobile. This expansion is already showing up in financial results; in the second quarter of fiscal year 2026, international revenue growth was partially driven by revenue from these Best Buy Express locations that opened after Q2 FY25.

Third-party sellers for the new U.S. Best Buy Marketplace

The relaunch of the U.S. Best Buy Marketplace in August 2025 is a key initiative to expand assortment without owning inventory. The platform launched with about 500 vetted sellers and is powered by Mirakl, the same software used for Best Buy Canada's successful marketplace, which currently accounts for 25% of orders shipped on BestBuy.ca. This new digital channel is expected to become significant; Jefferies research suggests the U.S. marketplace could account for 14% of online sales by the end of the decade. For context, in the third quarter of fiscal year 2026, Best Buy Co., Inc.'s U.S. online revenue was $2.82 billion, making up 31.8% of domestic revenue. The marketplace also fuels the Best Buy Ads network, with the company launching a self-serve platform called My Ads for these new sellers in Q3 FY26.

Here's a quick look at the scale of these key external relationships:

The company is definitely focused on making these external relationships work harder, especially by integrating the marketplace into its advertising business.

• Approved Third-Party Labor Providers must provide data feeds to Best Buy systems weekly.
• The Best Buy Canada Inventory Vendor Direct Import Routing and Shipping Guide was updated in July 2025.
• The company aims to help customers save $5 billion over the lifetime of their products by 2030.
• Best Buy operated 1,117 stores at the end of fiscal year 2025.

Finance: draft 13-week cash view by Friday.

Best Buy Co., Inc. (BBY) - Canvas Business Model: Key Activities

Enhancing the end-to-end omnichannel customer experience

Best Buy Co., Inc. maintained a physical footprint alongside digital operations through fiscal year 2025.

• Total stores at the end of fiscal year 2025: 1,117.
• Total employees in the U.S. and Canada at the end of fiscal year 2025: approximately 85,000.

Domestic online revenue performance in the fourth quarter of fiscal year 2025 (Q4 FY25) showed digital channel strength:

For the third quarter of fiscal year 2026 (Q3 FY26, ending November 1, 2025), U.S. online sales were $2.82 billion, a growth of 3.5% year-over-year. This represented 31.8% of total U.S. revenue in Q3 FY26.

Operating and scaling the Geek Squad service network

The services category, which includes Geek Squad support and membership offerings, was a driver of margin improvement.

• Domestic Gross Profit Rate in Q4 FY25 was 20.9%, up from 20.4% the prior year.
• The higher Domestic Gross Profit Rate in Q4 FY25 was primarily due to improved financial performance from the company's services category, including its membership offerings.

The company's strategy involves leveraging these services to enhance profitability.

Launching and scaling new profit streams like Best Buy Marketplace and Best Buy Ads

Best Buy Co., Inc. focused on scaling its third-party Marketplace, particularly in the U.S. starting in summer 2025, with a strong link to its advertising business.

The U.S. third-party online marketplace launch in 2025 provided opportunities for Best Buy Ads through new advertisers.

Managing a complex supply chain and localized inventory

Supply chain costs were managed effectively in the latter part of fiscal year 2025, contributing to margin expansion.

• International Gross Profit Rate in Q4 FY25 was 21.4%, compared to 21.0% the prior year, primarily due to lower supply chain costs.
• In fiscal year 2025, the 20 largest suppliers accounted for approximately 80% of merchandise purchased.
• Five suppliers-Apple, Samsung, HP, Sony and LG-represented approximately 55% of total merchandise purchased in fiscal 2025.

Driving operational effectiveness to fund strategic investments

Operational discipline was evident in expense management and overall profitability metrics for the fourth quarter of fiscal year 2025.

For the full year 2025, Best Buy Co., Inc.'s Enterprise Revenue was $41.528 billion, a decrease of 4.43% from $43.45 billion in fiscal year 2024.

Best Buy Co., Inc. (BBY) - Canvas Business Model: Key Resources

You're looking at the core assets that let Best Buy Co., Inc. actually deliver on its promises. These aren't just line items on a balance sheet; they are the engines of the business, especially as the lines between digital and physical retail keep blurring. Here's the breakdown of what Best Buy is leaning on as of late 2025.

The Geek Squad Brand and Its Nationwide Expert Labor Force

The Geek Squad brand remains a critical differentiator, tying services directly to product sales. This resource is heavily integrated into the Total Tech Support subscription program, which is a key component of the services revenue stream. While the exact size of the expert labor force isn't published as a standalone number, it is part of the company's total workforce of approximately 85,000 employees across the U.S. and Canada at the end of fiscal 2025. The brand is explicitly listed as a key asset within the Domestic segment. You should note that recent strategic workforce reductions have occurred within the division to optimize resource allocation, defintely impacting the field team structure.

Omnichannel Network of Approximately 1,117 Stores (Domestic and International)

The physical footprint is far from obsolete; it's the backbone of the omnichannel experience. As of the end of fiscal 2025 (February 1, 2025), Best Buy Co., Inc. operated 1,117 stores across its Domestic and International segments. These locations serve as showrooms, fulfillment hubs, and service centers. The company views this network as an important competitive advantage, using it to facilitate services and in-store pickups. For context, the full fiscal year 2025 revenue was $41.53 billion.

Here's a quick look at the scale of the physical network as of the end of fiscal 2025:

Customer Data from Approximately 100 Million Loyalty Members

Data is the fuel for personalization, and Best Buy has a massive pool to draw from. The overall My Best Buy loyalty ecosystem has reached approximately 100 million members. This large base allows for targeted marketing and personalized offers, which CEO Corie Barry has pointed to as a driver for engagement. The paid tiers of this ecosystem-Best Buy Plus and Best Buy Total-are also growing significantly, reaching nearly 8 million members by the end of fiscal 2025, up from 7 million the prior year.

The paid membership growth is a direct indicator of resource monetization:

• Overall Loyalty Ecosystem Members: Approximately 100 million
• Paid Members (Plus/Total) End of FY2025: Nearly 8 million
• Paid Members End of FY2024: 7 million

Strong Brand Recognition and Customer Trust in Consumer Electronics

The brand equity is built on decades of being the destination for technology, especially as a counterpoint to pure-play online retailers. This trust is what drives customers to use the omnichannel capabilities. For instance, despite improvements in shipping speed, a significant portion of the customer base still prefers the physical touchpoint: 46% of online orders are placed for in-store pickup. Furthermore, 3 in 5 customers who make a purchase engage digitally at some point during their journey, showing the brand's successful integration across channels.

Proprietary E-commerce Platform and Mobile App

The digital infrastructure is essential for capturing the modern consumer journey. The proprietary e-commerce platform and mobile app are where much of the digital engagement happens. In the fourth quarter of fiscal 2025, U.S. online sales accounted for 39.5% of total revenue, an increase from 38.0% the year prior. The app, in particular, is a focus area for driving personalization. This digital channel is not just for sales; it's a critical fulfillment asset, with nearly half of those online transactions leveraging the physical stores for pickup.

Key digital penetration metrics:

• Online Sales as % of Total Revenue (Q4 FY2025): 39.5%
• Digital Engagement in Customer Journey: 3 in 5 customers
• Online Orders Fulfilled via In-Store Pickup: 46%

Finance: draft 13-week cash view by Friday.

Best Buy Co., Inc. (BBY) - Canvas Business Model: Value Propositions

You're looking at how Best Buy Co., Inc. delivers unique value to its customers as of late 2025. It's not just about selling boxes; it's about the ecosystem around the technology.

Expert advice and high-touch in-home/in-store tech support

The Geek Squad service component is a core differentiator, especially when bundled. For members of the paid tiers, this includes Unlimited remote computer tune-ups. The entire Services category generated $2.63 billion in revenue for fiscal year 2025, making up 6.34% of the total revenue for that year.

The value proposition here is supported by a significant workforce dedicated to service delivery, with Best Buy Co., Inc. employing more than 85,000 people across the U.S. and Canada at the end of fiscal 2024.

Seamless omnichannel experience (e.g., in-store pickup accounts for 45% of online revenue)

The integration between digital and physical presence remains critical. For the fiscal third quarter ending November 1, 2025, 46% of orders consumers placed online were for in-store pickup. This highlights the importance of the physical footprint in fulfilling digital demand. In the fourth quarter of fiscal 2025, online sales penetration reached 39.5% of total Domestic revenue. The company is focused on speed; for instance, in the fourth quarter of fiscal 2025, they offered their online customers, on average, a 10% faster promise for delivery.

Curated assortment of consumer electronics and appliances

Best Buy Co., Inc. focuses its buying power on key partners to ensure a relevant selection. In fiscal 2024, the five largest suppliers-Apple, Samsung, HP, Sony, and LG-accounted for approximately 55% of the total merchandise purchased. The company maintains a vast physical footprint to support this assortment, operating 1,125 stores across its Domestic and International segments at the end of fiscal 2024.

Here's a look at the segment revenue breakdown for fiscal year 2025, showing where the curated assortment translates to dollars:

The total annual revenue for fiscal year 2025 was $41.53 billion.

Membership programs offering exclusive pricing and service benefits

The My Best Buy Membership program is structured to drive loyalty and recurring value. As of year-end 2025, paid memberships grew to nearly 8 million, up from 7 million the prior year. Overall, the retailer boasts approximately 100 million members across its three tiers (free and paid). The entry-level paid tier, My Best Buy Plus, carries an annual fee of $49.99.

The benefits driving adoption include:

• Free two-day shipping on online orders.
• Access to member-specific deals and events.
• Extended return window of 60 days for most products.
• Two years of product warranties.
• Unlimited remote computer tune-ups.

Competitive fulfillment options and price matching

The value proposition includes offering flexibility in how customers receive their purchases, which is crucial in the consumer electronics space. The company actively promotes its fulfillment network, which includes in-store pickup, delivery, and services integration. The ability to price match is an assumed part of maintaining competitiveness in this segment, though specific matching statistics aren't publicly detailed as a percentage of sales.

Finance: draft 13-week cash view by Friday.

Best Buy Co., Inc. (BBY) - Canvas Business Model: Customer Relationships

Best Buy Co., Inc. focuses its customer relationships on driving loyalty through tiered service offerings and digital integration, aiming to make the relationship a primary reason to choose them over competitors.

The core of this strategy is the paid membership structure, which saw significant growth by the end of fiscal 2025. The number of customers enrolled in the paid tiers, My Best Buy Plus and My Best Buy Total, reached nearly 8 million members, an increase from 7 million in fiscal 2024. The entire loyalty ecosystem, which includes the free My Best Buy tier, encompassed about 100 million members.

You can see the direct financial commitment and value proposition across the paid tiers here:

Dedicated Geek Squad support is a major component, especially for the top tier. For My Best Buy Total members, this includes 24x7 tech support for any device, regardless of where it was purchased. Furthermore, members receive a 20% discount on repair labor. To put the value of this support in perspective, a standalone service like virus removal and operating system repair for a laptop was listed at $149.99 for non-members.

Personalized digital engagement via the Best Buy app is clearly driving transactional behavior. During the fourth quarter of 2025, the Best Buy app delivered personalized home screens across more than 100 million sessions to loyalty members. The digital interaction is pervasive in the purchase journey; 3 in 5 customers who complete a purchase engaged digitally at some point along the way.

The company is also actively deploying technology to manage service interactions more efficiently, which impacts the customer experience. As of Q3 reporting in late 2025, the use of Artificial Intelligence helped streamline customer-support interactions, leading to a 17% decline in the number of customer contacts while simultaneously improving customer experience scores.

Best Buy Co., Inc. provides several self-service and digital support options:

• AI-enhanced product search and recommendations
• Access to more self-serve content options
• Instant checkout capabilities through agentic commerce offerings
• Digital management of membership and order tracking via the Best Buy app

Best Buy Co., Inc. (BBY) - Canvas Business Model: Channels

You're looking at how Best Buy Co., Inc. gets its products and services into the hands of customers as of late 2025. It's a true omnichannel play now, blending the physical and digital worlds.

Large-format physical retail stores (optimizing footprint)

Best Buy Co., Inc. is actively managing its physical footprint, closing some traditional large-format stores while opening smaller formats to better serve specific markets. This optimization aims to make the existing fleet more efficient. As of 2025, Best Buy operates 1,056 stores across the United States. The strategy involves tailoring each store to its local market needs, which adds complexity but is intended to boost effectiveness. The average store footprint has shrunk, yet service revenue per location has actually grown by 18% over the last decade, showing a shift in how the physical space is used.

Here's a quick look at the physical footprint context:

The company saw a 0.4% year-over-year boost in foot traffic in January 2025, a positive sign following optimization efforts.

E-commerce platform and mobile app (Domestic online revenue at 31.8% of Domestic revenue in Q3 FY26)

The digital channel remains critical. For the third quarter of fiscal year 2026, Best Buy Co., Inc. reported that Domestic online revenue reached $2.82 billion. This represented 31.8% of total Domestic revenue for that quarter, a slight increase from the prior year's 31.4%. The company is also leaning into its consumer app, which served personalized home screens on more than 100 million sessions during the fourth quarter of 2025, aiming to make the digital experience stickier.

In-home delivery, installation, and repair services

Services are a key differentiator, helping to offset pressure on product margins. In Q3 FY26, the Domestic Gross Profit Rate saw rate improvement within the services category, which partially offset lower product margin rates. The subscription model for support is growing, too. The number of customers holding paid Best Buy Plus and Best Buy Total memberships reached nearly 8 million by the end of fiscal 2025, up from 7 million in fiscal 2024. This subscription base feeds into the Geek Squad and Total Tech Support offerings.

Key service channel metrics include:

• Paid Membership Base (Plus/Total) (End of FY25): Nearly 8 million customers.
• Geek Squad/Total Tech Support: Core component of service revenue.
• Services Category: Showed rate improvement in Q3 FY26.

Small-format Best Buy Express and Outlet stores

These smaller formats are part of the overall strategy to tailor presence to local needs. Revenue from Best Buy Express locations is specifically noted as contributing to the growth in the International segment, although a specific revenue figure for these locations alone isn't broken out in the main domestic reporting. The strategy involves using these smaller formats in markets previously untapped by the larger stores.

Best Buy Co., Inc. (BBY) - Canvas Business Model: Customer Segments

You're looking at the core groups Best Buy Co., Inc. serves, which is a mix of the traditional shopper and the digitally-enabled service consumer.

The company's overall fiscal year 2025 revenue was reported at $41.53 Billion USD. This revenue base is supported by a diverse set of customers, though the focus remains heavily on the consumer side.

Family households are a key demographic driving traffic, often seeking large-ticket items like appliances and home entertainment systems. Analysis of audience demographics suggests that family households are overrepresented in the chain's captured market relative to its potential market. For instance, in 2024, the average household size in Best Buy Co., Inc.'s captured market was 2.64 persons, with 33.4% of those households being married couples with children. To be fair, this segment values the physical presence for advice and installation services.

Tech enthusiasts and early adopters remain crucial, especially for driving early adoption of new product categories. Website traffic analysis from October 2025 shows the audience is interested in Games > Video Games Consoles and Accessories & news. This segment contributes to the overall omnichannel nature of the business, as 62% of Best Buy Co., Inc. customers interact with both online and in-store touchpoints before purchasing.

The segment needing high-ticket item installation, particularly for appliances and home theater, is served through both product sales and the Services revenue category. While appliances sales saw declines in some periods, the overall Services category contributes to margin improvement. The company operates 1,056 stores across the United States as of 2025, providing a physical service footprint.

Paid members represent a growing, high-retention group seeking ongoing value. By the end of the fiscal year 2025, paid memberships grew to nearly 8 million. The premium tier, My Best Buy Total, is priced around $199 per year, which bundles Geek Squad support and extended product protection. This membership covers all members of the household living at the member's primary home address for services like delivery and standard installation. The previous tier, Best Buy Totaltech, was priced at $200 per year.

The B2B/Commercial customers segment, which includes small businesses and schools, is served through the International and Domestic segments, though specific B2B revenue figures aren't explicitly broken out in the latest reports. The company's Domestic segment revenue for Q3 FY26 (ending November 1, 2025) was $8.88 billion.

Here's a quick look at the composition and key data points for these segments:

The online component of the customer base shows significant activity, with Domestic online revenue reaching $2.82 billion in Q3 FY26, representing 31.8% of total Domestic revenue for that quarter.

You can see the value proposition is shifting toward services and membership benefits, which is reflected in the gross profit rate improvement driven by services and membership offerings in FY2025.

• My Best Buy Total provides up to 24 months of product protection on most new Best Buy Co., Inc. purchases.
• The free My Best Buy membership offers free standard shipping with no minimum purchase requirement.
• The largest age group of bestbuy.com visitors is 25 - 34 year olds.
• The company operated 1,056 stores in the U.S. as of 2025.

Best Buy Co., Inc. (BBY) - Canvas Business Model: Cost Structure

The cost structure for Best Buy Co., Inc. is heavily weighted toward the cost of the products it sells, followed by the operational expenses required to maintain its extensive physical and digital footprint.

High Cost of Goods Sold (COGS) due to product mix

The largest component of cost is the Cost of Goods Sold, which is directly influenced by the mix of products sold. For instance, in Q2 FY26, the domestic gross profit rate slightly decreased to 23.4% from 23.5% the prior year, which the company attributed to lower product margin rates driven by a higher sales mix of lower-margin categories. This pressure on the gross profit rate directly translates to a higher relative COGS impact on revenue.

Significant Selling, General, and Administrative (SG&A) expenses for labor and advertising

SG&A expenses represent the significant fixed and variable costs associated with running the business, including labor for store associates and Geek Squad services, as well as marketing spend. In Q2 FY25, Best Buy Co., Inc. demonstrated cost containment, as its SG&A expenses fell 3.7% year-over-year. However, this trend can reverse based on strategic needs; for example, in Q2 FY26, Domestic Adjusted SG&A expenses were $1.68 billion, or 19.3% of revenue, an increase driven partly by compensation expense, including higher medical claims. Advertising and promotional activities, such as the holiday campaign presence across NBC, Peacock, CBS, Fox, and Netflix, are embedded within these figures.

Supply chain and logistics costs for omnichannel fulfillment

Managing the supply chain to support both physical stores and online fulfillment adds complexity and cost. The International segment experienced a lower gross profit rate in Q2 FY26 at 21.8% versus 23.9% the prior year, which was explicitly attributed to lower product margin rates and unfavorable supply chain costs. The focus on omnichannel, including online revenue representing 31.8% of domestic revenue in Q2 FY26, necessitates ongoing investment in efficient logistics networks.

Capital expenditures of approximately $700 million for FY26 (stores, technology)

Best Buy Co., Inc. plans its capital spending to support both its physical footprint and digital evolution. For fiscal year 2026, the company expects capital expenditures to be approximately $700 million. This spending covers store optimization, including a planned reduction of approximately 5 to 10 Domestic segment stores, and necessary technology upgrades.

Technology investments in AI and digital capabilities

Technology investment is a specific driver of current SG&A increases. In Q2 FY26, Adjusted SG&A expenses increased partly due to technology investments. These investments are focused on leveraging AI to improve search and personalization across digital platforms and optimizing store operations. The company is also focused on architectural consolidation, having previously needed 93 different software applications to run its contact centers, with AI being incorporated into a unified approach to enhance agent support and customer service.

The key cost drivers include:

• Product acquisition costs, sensitive to margin mix.
• Labor and operational overhead captured in SG&A.
• Logistics expenses tied to omnichannel execution.
• Planned capital outlay of around $700 million for FY26.
• Strategic spending on AI and digital platform enhancements.

Best Buy Co., Inc. (BBY) - Canvas Business Model: Revenue Streams

You're looking at how Best Buy Co., Inc. actually brings in the money, which is key to understanding its valuation, especially with the new focus on services and digital platforms. The revenue streams are a mix of the traditional and the emerging, and the numbers show where the bulk of the cash is still coming from.

The foundation remains the Sales of consumer electronics, appliances, and home office products. For the fiscal year 2025, the total enterprise revenue clocked in at $41.53 B, a slight dip from the prior year. The product mix is heavily weighted toward computing and mobile, but appliances and core electronics still move significant volume.

Here's a look at the FY2025 revenue breakdown by segment, showing the scale of the core business:

The company is actively pushing Service revenue from Geek Squad and installation fees, which is a higher-margin area. In fiscal year 2025, Services revenue reached $2.63 B, up 3.99% from the $2.53 B generated in the prior year. This growth in services helped offset some product margin rate pressure in the same period.

Next up is the recurring revenue from customer loyalty, specifically Subscription fees from My Best Buy paid memberships. The program is structured with tiers, and management is counting on a large base of loyal customers. The total membership base is reported to include nearly 8 million members across the paid tiers, which drive engagement and provide predictable income.

The paid tiers include:

• My Best Buy Plus: priced at $49.99 per year.
• My Best Buy Total: priced at $179.99 per year.

The most interesting shift is the focus on Revenue from new streams: Best Buy Ads and Marketplace commissions. Management views these as intertwined and key to expanding incremental profit streams, especially as the U.S. third-party online marketplace scales up. In the Canadian operations, for example, one in four items shipped comes from a third-party seller, showing the potential path for the U.S. launch. While specific dollar amounts for the new U.S. Ads and Marketplace revenue aren't fully broken out yet, the Q3 FY26 results showed the Marketplace is already providing opportunities for Best Buy Ads through new advertisers.

Looking ahead, the company's official outlook reflects confidence in these combined streams stabilizing the top line. The Total Enterprise Revenue guidance for FY26 is $41.65 billion to $41.95 billion. That compares to the $41.1 billion to $41.9 billion range given previously, showing an upward revision based on strong Q3 performance.