By Kelly Cloonan
Shares of Insight Enterprises declined after the company posted lower profit and revenue in its latest quarter as its larger customers continue to delay new projects amid macroeconomic uncertainty.
The stock fell 13% to $125.73 on Thursday. Shares are off by 17% this year.
The technology solutions provider on Thursday posted a profit of $46.9 million, or $1.46 a share, for the second quarter, down from $87.4 million, or $2.27 a share, a year earlier.
Adjusted earnings per share were $2.45, below estimates of $2.47 a share according to analysts polled by FactSet.
Sales fell 3% to $2.09 billion, missing the $2.15 billion modeled by analysts surveyed by FactSet.
Product revenue fell 4% to $1.67 billion, driven by lower software product sales. Sales in the services segment fell 2%, to $426.2 million.
Chief Executive Joyce Mullen said the company continued to see its larger clients delay new services projects amid macroeconomic factors like tariffs, interest rates and supply chain disruptions from legislative policies.
Going forward, the company is well-positioned, particularly with its expertise in artificial intelligence, to grow as the macroeconomic environment improves, she said.
For the full year, the company said it now expects gross profit to be about flat from last year, compared to its prior outlook for low-single-digit growth. The company backed its previous guidance for adjusted earnings per share of $9.70 to $10.10, up from $9.68 in 2024.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
July 31, 2025 11:53 ET (15:53 GMT)
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