CENTENNIAL, Colo. (AP) — CENTENNIAL, Colo. (AP) — Arrow Electronics Inc. (ARW) on Thursday reported first-quarter profit of $235.1 million.
On a per-share basis, the Centennial, Colorado-based company said it had net income of $4.55. Earnings, adjusted for restructuring costs and amortization costs, were $5.22 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.81 per share.
The electronics maker posted revenue of $9.47 billion in the period.
For the current quarter ending in June, Arrow Electronics expects its per-share earnings to range from $4.32 to $4.52.
The company said it expects revenue in the range of $9.15 billion to $9.75 billion for the fiscal second quarter.
Arrow Electronics shares have climbed 74% since the beginning of the year. The stock has increased 67% 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
