IT distribution and solutions stocks reported strong second-quarter results, with the eight companies tracked beating revenue consensus estimates by 9.9% and guiding next quarter's revenue 10.4% above expectations. Despite the outperformance, shares of the group have fallen 5.1% on average since reporting. CDW posted revenue of $6.57 billion, up 10% year over year and 5.2% above estimates, but its stock dropped 10.8% to $137.30. TD SYNNEX led with revenue of $19.57 billion, up 31% and 16.6% above estimates, yet its shares fell 10.5% to $247.96. ScanSource delivered the biggest beat at 18.8% above estimates with revenue of $953.1 million, and its stock rose 5.5% to $54.23.
CDW CorpCDW beat revenue estimates but stock fell 10.8% despite strong results.
ScanSource IncScanSource delivered biggest revenue beat and stock rose 5.5%.
Synnex CorporationTD SYNNEX beat estimates but shares fell 10.5%.
PC Connection Inc
ePlus inc