2023-04-19 12:28:57 ET
Shares of CDW Corporation (NASDAQ: CDW) are down 13.3% Wednesday morning after the IT hardware and software distributor preannounced Q1 2023 sales numbers that fell far short of analyst predictions.
Heading into the quarter -- where official results are due out before market open on May 3 -- analysts had been forecasting nearly $5.4 billion in sales for CDW (according to Yahoo! Finance figures), and flat earnings of $2.20 per share. But this morning, CDW warned that sales will actually be closer to $5.1 billion for the quarter, and that profits for the full year will be "modestly below" 2022 numbers.
How much lower? CDW hasn't said just yet.
For further details see:
Why CDW Corporation Stock Just Tumbled 13%