The Vernon Hills, Illinois-based company reported a net income of $279.5 million, or $2.14 per share, up from $264.2 million during the same period last year. On an adjusted basis, CDW earned $2.57 per share, comfortably clearing the $2.37 consensus estimate from analysts polled by FactSet.
In section Market Quotes
CDW Shares Surge as Fourth-Quarter Earnings Beat Wall Street Estimates
CDW Corp. shares jumped Wednesday after the technology solutions provider reported fourth-quarter earnings and revenue that outpaced analyst expectations, signaling resilience despite a broader 12-month decline in its stock price.
Revenue for the quarter climbed 6.3% to $5.51 billion, also surpassing the $5.33 billion projected by Wall Street. This growth comes at a critical time for the IT provider, as its stock had retreated 32% over the past year prior to the Wednesday morning rally.
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