CDW tops quarterly estimates on steady demand from healthcare, government customers
CDW exceeded Wall Street expectations for Q2 results, driven by strong demand from healthcare and government sectors. The company reported net sales of $5.98 billion, surpassing estimates of $5.51 billion, with adjusted earnings of $2.60 per share. CEO Christine Leahy highlighted the growth opportunities from hybrid data centers and the effectiveness of their customer-centric strategy. Public segment sales rose 2% to $2.29 billion, reflecting increased sales to key sectors. CDW collaborates with major tech brands like Microsoft, Cisco, and Apple to provide diverse IT solutions.
Aug 6 (Reuters) - CDW (CDW.O) beat Wall Street estimates for second-quarter results on Wednesday, helped by continued demand for IT solutions from its healthcare and government customers.
The increasing need for hybrid data centers by combining cloud and on-premise infrastructure, has created new growth opportunities for CDW.
CDW provides information technology solutions such as security, cloud, hybrid infrastructure to business, government, education and healthcare customers in the United States, the United Kingdom and Canada.
The company has worked with key technology brands such as Microsoft (MSFT.O) , Cisco (CSCO.O) and Apple (AAPL.O) to offer a wide variety of products and services.
“This quarter’s results highlight the combined power of our balanced portfolio of customer end-markets and broad product and solutions suite, supported by the investments we’ve made in our business combined with our customer centric strategy,” CEO Christine Leahy said.
CDW’s public segment net sales grew 2% to $2.29 billion, primarily driven by an increase in sales to healthcare and government customers.
The company reported net sales of $5.98 billion for the second-quarter ended June 30, beating analysts’ estimate of $5.51 billion, according to data compiled by LSEG.
On an adjusted basis, the company earned $2.60 per share, compared with estimates of $2.49.
