09:26 AM EDT, 08/01/2024 (MT Newswires) -- Arrow Electronics ( ARW ) reported fiscal Q2 non-GAAP net income Thursday of $2.78 per diluted share, down from $4.37 a year earlier.

Analysts polled by Capital IQ expected $2.16.

Consolidated sales for the quarter ended June 29 were $6.89 billion, down from $8.51 billion a year earlier.

Analysts surveyed by Capital IQ expected $6.52 billion.

The company said it expects Q3 non-GAAP net income of $2.10 to $2.30 per diluted share. Analysts polled by Capital IQ expect $2.44.

Consolidated sales for the fiscal quarter are expected between $6.37 billion and $6.97 billion. Analysts surveyed by Capital IQ expect $6.69 billion.

Shares of Arrow Electronics ( ARW ) were up 5.5% in recent premarket activity.

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