CENTENNIAL, Colo. (AP) — CENTENNIAL, Colo. (AP) — Arrow Electronics Inc. (ARW) on Thursday reported second-quarter net income of $187.7 million.
On a per-share basis, the Centennial, Colorado-based company said it had profit of $3.59. Earnings, adjusted for one-time gains and costs, were $2.43 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.03 per share.
The electronics maker posted revenue of $7.58 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $7.14 billion.
For the current quarter ending in September, Arrow Electronics expects its per-share earnings to range from $1.49 to $1.69.
The company said it expects revenue in the range of $7.3 billion to $7.9 billion for the fiscal third quarter.
Arrow Electronics shares have risen 15% since the beginning of the year. The stock has increased 5% 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
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