(Reuters) -IT solutions provider CDW beat Wall Street estimates for third-quarter profit on Tuesday, as enterprise customers increased tech budgets and embraced artificial intelligence cloud adoption.
Growing demand for AI-related cloud and infrastructure to support intensive computing has boosted the need for CDW’s IT solutions, which include hardware, software and services for sectors like healthcare, government and education.
CDW’s chief financial officer, Albert Miralles, said strong performance in services and cloud was a key driver of growth and margins in the quarter.
The company, whose supply partners include Apple, Dell, IBM and Cisco, reported a 3% rise in adjusted profit to $2.71 per share for the quarter, beating the estimates of $2.62 per share, according to data compiled by LSEG.
Net sales rose 3.8% to $5.74 billion, narrowly missing estimates of $5.75 billion.
(Reporting by Anhata Rooprai in Bengaluru; Editing by Vijay Kishore)
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