CDW (CDW) came out with quarterly earnings of $2.48 per share, beating the Zacks Consensus Estimate of $2.33 per share. This compares to earnings of $2.57 per share a year ago.
CDW on Wednesday beat Wall Street estimates for the fourth quarter, helped by growing demand for its IT solutions, as small- and medium-sized businesses continue to spend on the company's services.
Get a deeper insight into the potential performance of CDW (CDW) for the quarter ended December 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.
CDW's fourth-quarter earnings are likely to have been affected by muted customer spending due to macroeconomic woes amid growth in cloud and security solutions.
CDW's cloud growth and acquisitions will aid it in the long run. However, slowing hardware demand and weakness across key segments hurt near-term prospects.
CDW's buyout of Mission Cloud Services is likely to strengthen its cloud capabilities and augment its presence in the cloud services market.
CDW's 3Q24 results were disappointing, with revenue declining and guidance lowered. The company's heavy exposure to hardware, which is facing weaker demand, is a headwind. As the market focuses on near-term growth, CDW's valuation could face significant downside pressure.
CDW Corporation (NASDAQ:CDW ) Q3 2024 Earnings Conference Call October 30, 2024 8:30 AM ET Company Participants Steve O'Brien - Vice President-Investor Relations Chris Leahy - Chair and Chief Executive Officer Al Miralles - Senior Vice President and Chief Financial Officer Conference Call Participants Adam Tindle - Raymond James David Vogt - UBS Erik Woodring - Morgan Stanley Amit Daryanani - Evercore Matt Sheerin - Stifel Keith Housum - Northcoast Research Samik Chatterjee - JPMorgan Operator Good morning all, and thank you for joining us for the CDW Third Quarter 2024 Earnings Call. My name is Carly, and I'll be coordinating your call today.
CDW's Q3 2024 performance is affected by continued weakness across the Corporate and Public businesses, offset by a slight gain in the Small Business unit.
While the top- and bottom-line numbers for CDW (CDW) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
CDW (CDW) came out with quarterly earnings of $2.63 per share, missing the Zacks Consensus Estimate of $2.84 per share. This compares to earnings of $2.72 per share a year ago.
IT solutions provider CDW missed third-quarter revenue estimates on Wednesday due to reduced demand for its hardware solutions, as clients curtailed spending amid inflationary pressures, sending its shares down 7.2% in premarket trading.