Arrow Electronics Inc. Q3 Profit Decreases, But Beats Estimates

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

The company's earnings totaled $100.57 million, or $1.88 per share. This compares with $198.66 million, or $3.53 per share, in last year's third quarter.

Excluding items, Arrow Electronics Inc. reported adjusted earnings of $127.53 million or $2.38 per share for the period.

Analysts on average had expected the company to earn $2.22 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 14.8% to $6.823 billion from $8.007 billion last year.

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

-Earnings (Q3): $100.57 Mln. vs. $198.66 Mln. last year. -EPS (Q3): $1.88 vs. $3.53 last year. -Revenue (Q3): $6.823 Bln vs. $8.007 Bln last year.