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CDW Exceeds Profit Estimates Amid Strong AI and Cloud Services Demand
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Heartspace News Desk
•Source: Reuters
Photo by Andrei Lazarev on Unsplash
TL;DR
CDW Corp. surpassed Wall Street's Q3 profit estimates, reporting an adjusted profit of $2.71 per share, a 3% increase, driven by enterprise demand for AI cloud services and infrastructure investments. Net sales grew by 3.8% to $5.74 billion, slightly below estimates.
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Key takeaways
- exceeded Wall Street's profit expectations for the third quarter, according to Reuters, driven by increased technology spending and enterprise adoption of AI cloud services
- The IT solutions provider reported an adjusted profit of $2
- 71 per share, a 3% increase and surpassing the analyst consensus of $2
CDW Corp. exceeded Wall Street's profit expectations for the third quarter, according to Reuters, driven by increased technology spending and enterprise adoption of AI cloud services. The IT solutions provider reported an adjusted profit of $2.71 per share, a 3% increase and surpassing the analyst consensus of $2.62 per share. This growth was primarily fueled by strong demand for AI-related cloud services, supported by ongoing infrastructure investments. While net sales increased by 3.8% to $5.74 billion, they narrowly missed estimates of $5.75 billion.
Related Topics
CDWAIcloud servicesIT solutionsprofitearningstechnology budgets
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