CENTENNIAL, Colo. (AP) - Arrow Electronics Inc. (ARW) on Thursday reported a second-quarter loss of $549 million, after reporting a profit in the same period a year earlier.
The Centennial, Colorado-based company said it had a loss of $6.48 per share. Earnings, adjusted for asset impairment costs and non-recurring costs, came to $1.60 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.56 per share.
The electronics maker posted revenue of $7.34 billion in the period.
For the current quarter ending in September, Arrow Electronics expects its per-share earnings to range from $1.62 to $1.74.
The company said it expects revenue in the range of $6.85 billion to $7.25 billion for the fiscal third quarter.
Arrow Electronics shares have increased slightly more than 5% since the beginning of the year. The stock has fallen 4% in the last 12 months.
_____
This story has been corrected to show that the current third quarter ends in September, not October.
_____
Elements of this story were 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
Please read our comment policy before commenting.