Arrow Electronics Inc. (ARW) has announced its third-quarter profit, which, while lower than the same period last year, surpassed analysts' expectations. The company posted earnings of $100.57 million, or $1.88 per share, compared to the previous year's third-quarter figures of $198.66 million, or $3.53 per share.
On an adjusted basis, Arrow Electronics reported earnings of $127.53 million or $2.38 per share for this quarter. Analysts, as per data from Thomson Reuters, had anticipated earnings of $2.22 per share, excluding special items typically factored out by forecasts.
Revenue for the quarter experienced a decline of 14.8%, falling to $6.823 billion compared to $8.007 billion in the previous year.
A summary of Arrow Electronics Inc.'s third-quarter financial performance, as per Generally Accepted Accounting Principles (GAAP), is as follows:
- Earnings (Q3): $100.57 million, down from $198.66 million last year.
- Earnings Per Share (EPS) (Q3): $1.88, decreased from $3.53 last year.
- Revenue (Q3): $6.823 billion, down from $8.007 billion last year.
