By Kelly Cloonan
Shares of Insight Enterprises declined after the company logged lower profit and revenue in the first quarter.
The stock was down 2.9% at $134.34 on Thursday. Shares have fallen 25% in the past 12 months.
The technology solutions provider before the open posted a first-quarter profit of $7.51 million, or 22 cents a share, compared with $67 million, or $1.74 a share, a year earlier.
Adjusted earnings per share were $2.06, ahead of estimates for $2.01 a share according to analysts polled by FactSet.
Revenue fell 12% to $2.10 billion. Analysts expected $2.19 billion.
The company's product sales led the revenue decline, down 13% from a year ago as its services sales fell 5%.
For the full-year, the company maintained its previous guidance for adjusted earnings per share of $9.70 to $10.10, up from $9.68 in 2024. The company continues to expect full-year low-single-digit gross profit growth.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
May 01, 2025 13:32 ET (17:32 GMT)
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