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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.

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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