Arrow Electronics Inc. Q2 Profit Decreases, but beats estimates

(RTTNews) - Arrow Electronics Inc. (ARW) announced a profit for second quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $236.56 million, or $4.12 per share. This compares with $370.33 million, or $5.54 per share, in last year's second quarter.

Excluding items, Arrow Electronics Inc. reported adjusted earnings of $250.64 million or $4.37 per share for the period.

Analysts on average had expected the company to earn $4.34 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 10.0% to $8.51 billion from $9.46 billion last year.

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

-Earnings (Q2): $236.56 Mln. vs. $370.33 Mln. last year. -EPS (Q2): $4.12 vs. $5.54 last year. -Analyst Estimates: $4.34 -Revenue (Q2): $8.51 Bln vs. $9.46 Bln last year.

-Guidance: Next quarter EPS guidance: $3.40 - $3.60 Next quarter revenue guidance: 7.78 - $8.38 Bln