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 bottom line came in at $370.33 million, or $5.54 per share. This compares with $240.64 million, or $3.23 per share, in last year's second quarter.

Excluding items, Arrow Electronics Inc. reported adjusted earnings of $386.29 million or $5.78 per share for the period.

Analysts on average had expected the company to earn $5.63 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 10.5% to $9.46 billion from $8.56 billion last year.

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

-Earnings (Q2): $370.33 Mln. vs. $240.64 Mln. last year. -EPS (Q2): $5.54 vs. $3.23 last year. -Analyst Estimate: $5.63 -Revenue (Q2): $9.46 Bln vs. $8.56 Bln last year.

-Guidance: Next quarter EPS guidance: $5.27 to $5.43 Next quarter revenue guidance: $8.92 - $9.52 Bln