Arrow Electronics (ARW) shares plummeted 5.15% in pre-market trading on Thursday, despite reporting better-than-expected second-quarter results. The sharp decline suggests that investors are focusing on the company's third-quarter guidance, which appears to have fallen short of market expectations.

For the second quarter, Arrow Electronics reported adjusted earnings per share of $2.43, surpassing the analyst consensus estimate of $2.06 by 18.19%. However, this represents a 12.59% decrease from the same period last year. The company's quarterly sales reached $7.58 billion, beating the analyst consensus estimate of $7.15 billion by 6.07% and showing a 9.97% increase year-over-year.

Despite the strong Q2 performance, Arrow Electronics' outlook for the third quarter seems to have disappointed investors. The company forecasts Q3 sales between $7.3 billion and $7.9 billion, with adjusted earnings per share expected to be in the range of $2.16 to $2.36. This guidance appears to have sparked concerns about potential slowdown in growth or margin pressure, leading to the significant stock price drop in pre-market trading.