Nov 1 (Reuters) - CDW (CDW.O) reported third-quarter revenue below estimates on Wednesday on lower demand for the company's information technology solutions as customers struggling with high borrowing costs cut back spending and defer projects.
The company, however, beat third-quarter profit estimates on the back of higher margins and reduced discretionary spending.
CDW posted adjusted earnings of $2.72 compared with analysts' estimates of $2.60 per share.
The Vernon Hills, Illinois-based company reported lower sales from its corporate and small business segments and also at its UK and Canadian operations.
Its public unit was the only outlier, with healthcare and education customers driving sales up 1.5% compared to the year before.
Persons:
CDW, Harshita Mary Varghese, Tasim Zahid
Organizations:
Thomson
Locations:
Vernon Hills , Illinois