Arrow Electronics Inc. Q3 Profit Increases, beats estimates

(RTTNews) - Arrow Electronics Inc. (ARW) announced earnings for its third quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $342.40 million, or $5.27 per share. This compares with $290.03 million, or $4.00 per share, in last year's third quarter.

Excluding items, Arrow Electronics Inc. reported adjusted earnings of $354.11 million or $5.45 per share for the period.

Analysts on average had expected the company to earn $5.39 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 8.9% to $9.27 billion from $8.51 billion last year.

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

-Earnings (Q3): $342.40 Mln. vs. $290.03 Mln. last year. -EPS (Q3): $5.27 vs. $4.00 last year. -Analyst Estimate: $5.39 -Revenue (Q3): $9.27 Bln vs. $8.51 Bln last year.

-Guidance: Next quarter EPS guidance: $5.60 - $5.80 Next quarter revenue guidance: $8.95 - $9.55 Bln