Consumer electronics retailer Best Buy Co. posted 37 per cent rise in its earnings for the fourth quarter. The better than expected results surfaced as sales of notebook PCs and TVs zoomed up on back of falling prices, the company reported.

The best part of the announcements made by the company in Thursday is that this quarter represented the retailer's 17th consecutive market share gain. Interestingly, its biggest rival Circuit City Stores Inc. closed many of its stores last year.

The company's Chief Financial Officer Jim Muehlbauer commented that the results of the company are key to the future. He added, "The opportunity is to find new ways to improve these value propositions and make them more relevant to our customers."

Profit of the company for the quarter ended on February 27 remained at $779 million or $1.82 a share, as compared to $570 million, or $1.35 a share, in the year-ago period. The company managed such earning figures despite spending restructuring charges of 26 cents a share. The retailer's revenue too gained a smart 12.4 per cent to $16.55 billion.

Shares of the company rallied up with the better than expected results.