Arrow Electronics (NYSE: ARW) reported Q2 EPS of $1.65, $0.01 better than the analyst estimate of $1.64. Revenue for the quarter came in at $5.97 billion versus the consensus estimate of $6.04 billion.

"By increasingly delivering more complex solutions, we capture a greater reward. That was evidenced by our margin performance," said Michael J. Long, chairman, president, and chief executive officer. "Our core businesses remain healthy, and we made significant progress in the quarter with respect to our digital transformation, expanding our cloud solutions, and capturing the opportunities afforded by IoT to sell the capabilities of our entire enterprise."

GUIDANCE:

Arrow Electronics sees Q3 2016 EPS of $1.45-$1.57, versus the consensus of $1.51. Arrow Electronics sees Q3 2016 revenue of $5.65-6.05 billion, versus the consensus of $5.88 billion.

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