IT solutions provider CDW reported third-quarter revenue that fell short of expectations due to reduced client spending amidst inflationary pressures, leading to decreased demand for hardware solutions. While cloud computing and endpoint solutions showed strong performance, they were not enough to offset the decline in hardware demand.
CDW offers a variety of products and services, ranging from hardware and software to integrated IT solutions like security, cloud, and hybrid infrastructure, catering to clients across the United States, United Kingdom, and Canada, including businesses, government agencies, educational institutions, and healthcare organizations.
According to data compiled by LSEG, CDW's net sales for the third quarter reached $5.52 billion, below analysts' expectations of $5.72 billion. Adjusted earnings per share stood at $2.63, missing the projected $2.85. The company's gross profit margin for the quarter remained steady at 21.8% year-over-year.
