CENTENNIAL, Colo. (AP) _ Arrow Electronics Inc. (ARW) on Thursday reported first-quarter profit of $206.3 million.
On a per-share basis, the Centennial, Colorado-based company said it had profit of $2.72. Earnings, adjusted for one-time gains and costs, were $2.84 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.27 per share.
The electronics maker posted revenue of $8.39 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $7.98 billion.
For the current quarter ending in July, Arrow Electronics expects its per-share earnings to range from $2.82 to $2.98.
The company said it expects revenue in the range of $8.1 billion to $8.7 billion for the fiscal second quarter.
Arrow Electronics shares have climbed 16% since the beginning of the year. The stock has increased 84% 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
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