Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Insight Enterprises (NAS: NSIT) defied today's market rout and popped 17% in intraday trading after reporting an impressive earnings beat and raising guidance.
So what: Non-GAAP EPS of $0.80 trounced the $0.62 consensus estimate and grew 38% year over year. GAAP EPS of $0.75 grew 29% year over year while revenue grew 16%. Gross profit increased 17% year over year and operating profit increased 22% year over year.
Now what: Management cited "strong execution and favorable market conditions" for the better than expected results. The company now expects non-GAAP EPS of $1.90 to $1.98 for the year, well above the $1.79 consensus forecast. With the $0.18 EPS beat for the second quarter, the guidance appears conservative and second half estimates are likely to rise.
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At the time this article was published Fool contributor Cindy Johnson does not own shares of any company named above. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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