Arrow Electronics Inc. Q2 Profit Increases, Beats Estimates

(RTTNews) - Arrow Electronics Inc. (ARW) reported earnings for its second quarter that Increased from last year and beat the Street estimates.

The company's earnings came in at $188 million, or $3.59 per share. This compares with $109 million, or $2.01 per share, last year.

Excluding items, Arrow Electronics Inc. reported adjusted earnings of $127 million or $2.43 per share for the period.

Analysts on average had expected the company to earn $2.05 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 10.0% to $7.58 billion from $6.89 billion last year.

Arrow Electronics Inc. earnings at a glance (GAAP) :

-Earnings: $188 Mln. vs. $109 Mln. last year. -EPS: $3.59 vs. $2.01 last year. -Revenue: $7.58 Bln vs. $6.89 Bln last year.

-Guidance: Next quarter EPS guidance: $2.16 - $2.36 Next quarter revenue guidance: $7.30 - $7.90 Bln