CENTENNIAL, Colo. (AP) _ Arrow Electronics Inc. (ARW) on Thursday reported third-quarter earnings of $342.4 million.
On a per-share basis, the Centennial, Colorado-based company said it had profit of $5.27. Earnings, adjusted for amortization costs and restructuring costs, came to $5.45 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $5.36 per share.
The electronics maker posted revenue of $9.27 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $9.2 billion.
For the current quarter ending in December, Arrow Electronics expects its per-share earnings to range from $5.60 to $5.80.
The company said it expects revenue in the range of $8.95 billion to $9.55 billion for the fiscal fourth quarter.
Arrow Electronics shares have fallen 25% since the beginning of the year. The stock has declined 15% 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
