Arrow Electronics Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Arrow Electronics Inc. (ARW) revealed earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $364.75 million, or $5.31 per share. This compares with $206.32 million, or $2.72 per share, in last year's first quarter.

Excluding items, Arrow Electronics Inc. reported adjusted earnings of $373.49 million or $5.43 per share for the period.

Analysts on average had expected the company to earn $4.56 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 8.1% to $9.07 billion from $8.39 billion last year.

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

-Earnings (Q1): $364.75 Mln. vs. $206.32 Mln. last year. -EPS (Q1): $5.31 vs. $2.72 last year. -Analyst Estimate: $4.56 -Revenue (Q1): $9.07 Bln vs. $8.39 Bln last year.

-Guidance: Next quarter EPS guidance: Adj; $5.48 - $5.64 Next quarter revenue guidance: $9.04 - $9.64 Bln