CDW posts first-quarter revenue beat on strong IT demand amid AI, cloud boom

May 6 (Reuters) - CDW ‌topped Wall ​Street ​expectations for first-quarter revenue on Wednesday, helped by resilient demand ‌for its information technology solutions as businesses ⁠ramp up spending on artificial intelligence and cloud ‌technology.

• CDW provides ‌security, cloud and hybrid infrastructure solutions to businesses, governments and sectors such as ​education and healthcare in the United States, United Kingdom and Canada.

• It reported ⁠net sales of $5.68 billion for the quarter ended March ​31, beating analysts' average estimate of $5.48 billion, according to data compiled by ​LSEG.

• Adjusted earnings came ‌in at $2.28 per share, slightly below analysts' estimate of $2.29 per share.

• "As ⁠customers move from AI exploration into real, production environments, they are increasingly relying on ⁠partners with the integration, governance, and lifecycle expertise to ​execute at scale," CEO Christine Leahy said.

• The company also benefited from rising demand for network ‌security and cloud migration.

• Net sales of CDW's commercial segment ‌grew about 10% to $3.57 billion, primarily driven ⁠by an increase ‌in sales to ​healthcare and financial services customers.

(Reporting by Arunesh Sinha; Editing by Diti ‌Pujara)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Linde quarterly sales rise 9%, plans to invest $1 bln in Phoenix chip expansion
• Church & Dwight (CHD) Reports In-Line Q2 EPS, Beats on Revenue; Offers Guidance
• Telus (TU) Misses Q2 EPS by 4c