CENTENNIAL, Colo. — Arrow Electronics Inc. (ARW) on Thursday reported second-quarter net income of $132.8 million, after reporting a loss in the same period a year earlier.
The Centennial, Colorado-based company said it had net income of $1.68 per share. Earnings, adjusted for one-time gains and costs, were $1.59 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.45 per share.
The electronics maker posted revenue of $6.61 billion in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $6.37 billion.
For the current quarter ending in October, Arrow Electronics expects its per-share earnings to range from $1.54 to $1.70.
The company said it expects revenue in the range of $6.33 billion to $6.93 billion for the fiscal third quarter.
Arrow Electronics shares have dropped 19% since the beginning of the year. The stock has fallen slightly more than 4% in the last 12 months.
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