CENTENNIAL, Colo. (AP) — CENTENNIAL, Colo. (AP) — Arrow Electronics Inc. (ARW) on Thursday reported third-quarter profit of $109.2 million.
The Centennial, Colorado-based company said it had net income of $2.09 per share. Earnings, adjusted for one-time gains and costs, came to $2.41 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.28 per share.
The electronics maker posted revenue of $7.71 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $7.67 billion.
For the current quarter ending in December, Arrow Electronics expects its per-share earnings to range from $3.44 to $3.64.
The company said it expects revenue in the range of $7.8 billion to $8.4 billion for the fiscal fourth quarter.
Arrow Electronics shares have climbed 0.5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $113.74, a fall of 16% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ARW at https://www.zacks.com/ap/ARW
