The 2020 Mid-Year Economic Update_long

Arrow Electronics Sales Increase 5% in 1Q

Profit for the electronics components distributor rose 37.4 percent.

Electronics distributor Arrow Electronics, Inc. (NYSE: ARW), Englewood, CO, reported first quarter sales of $5.08 billion, an increase of 5 percent from the previous year. Profit increased 37.4 percent to $107.1 million.

Global components first-quarter sales increased 7 percent year over year to $3.42 billion, with sales in the Asia-Pacific region increasing 12 percent. Global enterprise computing solutions sales remained flat year over year, with sales in the Americas remaining consistent.

“Global components delivered good growth. Business conditions for enterprise computing solutions were mixed; however, demand improved in April. We were pleased with the profitability performance across our businesses.” said Michael J. Long, president and CEO.

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