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Arrow Electronics: 3Q Earnings Snapshot

CENTENNIAL, Colo. (AP) _ Arrow Electronics Inc. (ARW) on Thursday reported third-quarter profit of $176.5 million.

On a per-share basis, the Centennial, Colorado-based company said it had profit of $1.99. Earnings, adjusted for amortization costs and restructuring costs, were $2.18 per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.16 per share.

The electronics maker posted revenue of $7.49 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $7.38 billion.

For the current quarter ending in December, Arrow Electronics expects its per-share earnings to range from $2.46 to $2.62.

The company said it expects revenue in the range of $7.7 billion to $8.1 billion for the fiscal fourth quarter.

Arrow Electronics shares have fallen 15 percent since the beginning of the year. The stock has fallen 19 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ARW at https://www.zacks.com/ap/ARW