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
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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