Insight Enterprises (NSIT) Tops Q1 EPS by 22c

Insight Enterprises (NASDAQ: NSIT) reported Q1 EPS of $1.30, $0.22 better than the analyst estimate of $1.08. Revenue for the quarter came in at $2.14 billion versus the consensus estimate of $2.14 billion.

GUIDANCE AND ANTICIPATED COVID-19 IMPACT

The Company is withdrawing its 2020 financial guidance for net sales and Adjusted diluted earnings per share due to the high level of economic uncertainty and disruption caused by COVID-19. We observed a limited impact of COVID-19 on our first quarter financial results; however, we anticipate demand for our products and services will decrease significantly in the short term as business and consumer activity declines globally. The ultimate extent of the impact of the COVID-19 pandemic on our business operations, financial performance and results of operation, including our ability to execute our business strategies and initiatives in the expected time frame, is currently unknown and will depend on future developments, which are highly uncertain, continuously evolving and cannot be predicted. This includes, but is not limited to, the duration and spread of the COVID-19 pandemic, its severity, the actions to contain the virus or treat its impact, such as related restrictions on travel and transportation, and how quickly and to what extent normal economic and operating conditions can resume.

For earnings history and earnings-related data on Insight Enterprises (NSIT) click here.

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