Arrow Electronics (ARW) reported quarterly earnings results on Tuesday, Aug-2-2016. The company said it had a profit of $1.65 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $1.64. The company posted revenue of $5972.10 million in the period, compared to analysts expectations of $6032.03 million. The company’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.54 EPS.
Arrow Electronics opened for trading at $66.34 and hit $66.7 on the upside on Friday, eventually ending the session at $66.49, with a gain of 0.24% or 0.16 points. The heightened volatility saw the trading volume jump to 5,83,652 shares. Company has a market cap of $6,093 M.
In a different news, on Jun 13, 2016, Paul J Reilly (Executive Vice President) sold 50,705 shares at $67.30 per share price. According to the SEC, on Jun 8, 2016, Andrew S Bryant (Chief Operating Officer) sold 14,785 shares at $66.00 per share price. On May 25, 2016, Gregory Tarpinian (General Counsel) sold 3,300 shares at $63.21 per share price, according to the Form-4 filing with the securities and exchange commission.
Arrow Electronics Inc. (Arrow) is a provider of products services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The Company has a portfolio of product offerings available from electronic components and enterprise computing solutions (ECS) suppliers coupled with a range of services solutions and tools for industrial and commercial customers. The Company operates in two business segments: the global components business and the global enterprise computing solutions business. The global components business segment is a provider of online catalogs for electronic components; cloud-based design tools; factory-direct end-of-life product inventory and disposition solutions to redeploy remarket and recycle technology assets. The global ECS business segment provides enterprise and midrange computing products services and solutions to value-added resellers (VARs) in the Americas EMEA and Asia Pacific regions.