CENTENNIAL, Colo. (AP) — CENTENNIAL, Colo. (AP) — Arrow Electronics Inc. (ARW) on Thursday reported third-quarter earnings of $100.6 million.
On a per-share basis, the Centennial, Colorado-based company said it had net income of $1.88. Earnings, adjusted for one-time gains and costs, came to $2.38 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.23 per share.
The electronics maker posted revenue of $6.82 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $6.74 billion.
For the current quarter ending in December, Arrow Electronics expects its per-share earnings to range from $2.48 to $2.68.
The company said it expects revenue in the range of $6.67 billion to $7.27 billion for the fiscal fourth quarter.
Arrow Electronics shares have climbed 11% since the beginning of the year. The stock has climbed 21% 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
