RTTNews | Oct 29, 2020 08:17AM EDT

08:17 Thursday, October 29, 2020 (RTTNews.com) - Arrow Electronics Inc. (ARW) announced earnings for its third quarter that rose from the same period last year.

The company's bottom line came in at $166.06 million, or $2.13 per share. This compares with $92.13 million, or $1.10 per share, in last year's third quarter.

Excluding items, Arrow Electronics Inc. reported adjusted earnings of $162.08 million or $2.08 per share for the period.

Analysts had expected the company to earn $1.66 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.1% to $7.23 billion from $7.08 billion last year.

Arrow Electronics Inc. earnings at a glance:

-Earnings (Q3): $162.08 Mln. vs. $154.83 Mln. last year.-EPS (Q3): $2.08 vs. $1.86 last year.-Analysts Estimate: $1.66-Revenue (Q3): $7.23 Bln vs. $7.08 Bln last year.

-Guidance:Next quarter EPS guidance: $2.57 - $2.73Next quarter revenue guidance: $7.45 - $8.05 Bln

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