Arrow Electronics Inc. Q2 adjusted earnings Beat Estimates

(RTTNews) - Arrow Electronics Inc. (ARW) revealed earnings for its second quarter that rose from the same period last year.

The company's bottom line came in at $240.64 million, or $3.23 per share. This compares with $132.80 million, or $1.68 per share, in last year's second quarter.

Excluding items, Arrow Electronics Inc. reported adjusted earnings of $249.33 million or $3.34 per share for the period.

Analysts had expected the company to earn $2.96 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 29.5% to $8.56 billion from $6.61 billion last year.

Arrow Electronics Inc. earnings at a glance:

-Earnings (Q2): $249.33 Mln. vs. $126.08 Mln. last year. -EPS (Q2): $3.34 vs. $1.59 last year. -Analysts Estimate: $2.96 -Revenue (Q2): $8.56 Bln vs. $6.61 Bln last year.

-Guidance: Next quarter EPS guidance: $3.42 - $3.58 Next quarter revenue guidance: $6.375 - $6.675 Bln