The world’s largest consumer electronics retailer posted better-than-expected earnings for the fourth quarter on Thursday but sales of televisions continued to fall in the United States.

clearpxl: Best Buy said net income for the period ended Feb. 26 was $651 million, or $1.62 a share, down 16 percent from $779 million, or $1.82, during the same quarter last year. Revenue dropped 2 percent to $16.3 billion from $16.6 billion last year. Comparable-store sales decreased 4.6 percent.

The Minnesota-based company said domestic sales fell 4 percent to $12.1 billion, in part due to a double-digit decrease in entertainment hardware and software products, including televisions. The decline was somewhat offset by strong performance of mobile phones, as demand for smart phones remained high. In addition, sales from its domestic online business grew 11 percent.

Best Buy posted dismal earnings for the third quarter in December, with domestic revenue from consumer electronics falling 3 percent and those from entertainment software down 15 percent. During that period, the company’s home office category was the only strong performer in the domestic market with 4 percent growth.

This fourth quarter, international sales continued to grow modestly, rising 4 percent to $4.1 billion, boosted by the launch of new stores and the positive effects of currency changes. Comparable-store sales overseas fell 1.3 percent.

Performance of the Five Star Appliance chain in China was weak, with a low single-digit comparable-store decline. Best Buy last month announced it would shutter its Best Buy-branded stores in China to focus on opening between 40 to 50 Five Star stores next year.

Best Buy forecast adjusted net earnings per share of $3.30 to $3.55 for 2012. It expects revenue to grow between 1 percent to 4 percent to $51 billion to $52.5 billion. “In fiscal 2011, we executed deliberate plans to drive growth in profitable areas of our business, focus and restructure our international portfolio to enhance returns and improve our capital allocation strategy,” Jim Muehlbauer, chief financial officer, said in a statement.

”In fiscal 2012, we plan to continue these themes and expect challenges in the macro environment will continue to impact consumer spending within the retail and CE industries,” Muehlbauer added.