Arrow Electronics Inc. Q2 Profit Decreases, But Beats Estimates

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

The company's earnings came in at $108.698 million, or $2.01 per share. This compares with $236.559 million, or $4.12 per share, in last year's second quarter.

Excluding items, Arrow Electronics Inc. reported adjusted earnings of $150.482 million or $2.78 per share for the period.

Analysts on average had expected the company to earn $2.16 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 19.1% to $6.892 billion from $8.514 billion last year.

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

-Earnings (Q2): $108.698 Mln. vs. $236.559 Mln. last year. -EPS (Q2): $2.01 vs. $4.12 last year. -Revenue (Q2): $6.892 Bln vs. $8.514 Bln last year.

-Guidance: Full year EPS guidance: $2.10 - $2.30 Full year revenue guidance: $6.37 - $6.97 Bln