CDW Corp. (NASDAQ: CDW) reported Q2 EPS of $0.67, $0.10 better than the analyst estimate of $0.57. Revenue for the quarter came in at $3.1 billion versus the consensus estimate of $2.95 billion.

"We outperformed the US IT market once again in the second quarter, delivering excellent top-line and profit growth driven by the combined power of our diverse customer channels, our full suite of offerings that address customer priorities across the IT landscape, and our ongoing strategic progress," said Thomas E. Richards, chairman and chief executive officer of CDW.

"Sales growth of nearly 12 percent was powered by continued exceptional performance in K-12 education and excellent results in both Small Business and Healthcare. Sales to the Federal government returned to growth and both State & Local and Higher Education delivered strong results. Continued customer focus on refreshing client devices and the implementation of digital education testing drove significant increases in PC sales. Despite higher sales from these lower-margin products, we generated strong profitability, with Adjusted EBITDA up 16.3 percent and non-GAAP net income per share up 45.6 percent."

"Since our initial public offering last June we have paid down $647 million in net debt, lowering our annualized interest expense by nearly $90 million," said Ann E. Ziegler, CDW's chief financial officer. "We expect ongoing strong operating results coupled with the impact of lower interest expense from these actions as well as additional refinancing actions this year to continue to amplify net income growth and enable us to exceed our medium-term target of mid-teens annual earnings per share growth in 2014."

"Given our strong first half results and expectations for the balance of the year, we expect to exceed our medium-term target of outpacing US IT market growth by 200 to 300 basis points in 2014," continued Richards. "We will do that by remaining laser-focused on meeting the needs of our 250,000 customers in the US and Canada and remaining the partner of choice for more than 1,000 leading and emerging technology brands as the technology market continues to evolve."

For earnings history and earnings-related data on CDW Corp. (CDW) click here.