CDW exceeds quarterly profit and revenue

CDW, a provider of information technology solutions, announced quarterly results that exceeded Wall Street expectations in both revenue and profits. The company achieved sales of $6.57 billion, surpassing the forecast of $6.21 billion, and reported an adjusted earnings of $2.91 per share compared to the expected $2.80. Despite this strong performance, the stock dropped approximately 14% during pre-market trading, mainly due to a decrease in gross profit margin to 20.1% from Wall Street's forecast of 21.2%. This decline was driven by a shift in sales toward hardware products with lower margins compared to services and software. The company benefited from increased corporate spending on technology, especially in artificial intelligence, cloud computing, and data center upgrades, with the enterprise segment growing by 9.2% during the quarter. Additionally, the company announced that its CFO, Albert Miralles, will retire next year. Overall, demand for digital solutions remains strong despite the impact of narrower profit margins.

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