Arrow Electronics Inc. Q3 adjusted earnings Beat Estimates

(RTTNews) - Arrow Electronics Inc. (ARW) released earnings for its third quarter that rose from last year.

The company's profit totaled $290 million, or $4.00 per share. This compares with $166 million, or $2.13 per share, in last year's third quarter.

Excluding items, Arrow Electronics Inc. reported adjusted earnings of $293 million or $4.04 per share for the period.

Analysts had expected the company to earn $3.54 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 17.7% to $8.51 billion from $7.23 billion last year.

Arrow Electronics Inc. earnings at a glance:

-Earnings (Q3): $293 Mln. vs. $162 Mln. last year. -EPS (Q3): $4.04 vs. $2.08 last year. -Analysts Estimate: $3.54 -Revenue (Q3): $8.51 Bln vs. $7.23 Bln last year.

-Guidance: Next quarter EPS guidance: $4.37 to $4.53 Next quarter revenue guidance: $8.55 bln-$9.15 bln