Arrow Electronics reported Q2 non-GAAP earnings of $5.45 per share, exceeding estimates by $1, yet shares fell sharply.
Arrow Electronics (ARW) shares declined approximately 10% despite surpassing second-quarter earnings expectations and providing a positive third-quarter outlook. The company reported non-GAAP earnings of $5.45 per share, beating analyst estimates by $1, while revenue increased for the period.
Analysts had anticipated lower earnings, with consensus estimates below the reported $5.45 per share. The company’s upbeat guidance for the next quarter also failed to support the stock, which fell alongside the earnings release.
The market reaction suggests investor concerns may extend beyond the reported figures, though no immediate catalyst for the decline was specified.