Information technology products reseller and services provider CDW on Wednesday beat analyst estimates for the first quarter. CDW stock rose on the news.
The Vernon Hills, Ill.-based company earned an adjusted $2.15 a share on sales of $5.2 billion in the March quarter. Analysts polled by FactSet had expected earnings of $1.96 a share on sales of $4.94 billion. On a year-over-year basis, CDW earnings rose 12% while sales increased 7%.
The increased sales in Q1 were due to customer demand for notebook and desktop PCs, mobile devices, software and services, CDW said. Those gains were partially offset by a decrease across various hardware categories.
"This quarter's performance highlights the combined power of our balanced portfolio of customer end-markets and broad product and solutions suite, when underpinned by our customer-centric strategy," Chief Executive Christine Leahy said in a news release.
On the stock market today, CDW stock climbed 7.1% to close at 175.52.
CDW provides multibrand information technology solutions to business, government, education and health-care customers in the U.S., U.K. and Canada.
For the full year, CDW guided to low single-digit growth in adjusted earnings per share. Wall Street was modeling 2025 earnings growth of 1% to $9.64 a share.
Follow Patrick Seitz on X, formerly Twitter, at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
