Latest news with #MeghanaKhare
Yahoo
07-05-2025
- Business
- Yahoo
Dayforce sees lower-than-expected second-quarter revenue on muted spending
(Reuters) - Human resources software provider Dayforce on Wednesday forecast second-quarter revenue below market estimates, anticipating reduced spending on its payroll and HR services amid macroeconomic uncertainty. Shares of the Minneapolis, Minnesota-based company fell 10% following the results. Job growth in the U.S. was choppy in the first quarter, slowing more than expected in January before picking up pace in February, at a time when the labor market outlook was clouded by the country's trade policy changes. The murky economic backdrop has been particularly hitting small- and medium-sized businesses, forcing them to reassess their budgets. Dayforce expects its total second-quarter revenue to be between $454 million and $460 million, below analysts' average estimate of $465.5 million, according to data compiled by LSEG. It forecast full-year revenue between $1.93 billion and $1.94 billion, in line with estimates of $1.93 billion. The projections come in contrast with those of larger rival ADP, which raised its annual revenue forecast last week on the back of resilient enterprise demand and recent acquisitions. Dayforce, formerly known as Ceridian, provides cloud-based payroll, workforce and human capital management software to enterprise clients globally. The company in February announced a workforce reduction of about 5%, aiming to streamline its operations and achieve annual cost savings of about $65 million. It posted total revenue of $481.8 million for the quarter ended March 31, compared with expectations of $476.7 million. Excluding float, the total quarterly revenue was $426.5 million. Float revenue refers to the earnings or interest a company generates from holding cash or other liquid assets for a period before using them for their intended purpose. The company earned 58 cents per share on an adjusted basis in the first quarter, compared with estimates of 55 cents per share. (Reporting by Meghana Khare; Editing by Shreya Biswas)
Yahoo
07-05-2025
- Business
- Yahoo
CDW beats quarterly estimates on demand for hardware, software
(Reuters) -IT hardware and services distributor CDW topped Wall Street estimates for first-quarter revenue and profit on Wednesday, buoyed by steady demand from healthcare, education and other industries. CDW said customer demand for desktops, notebooks, mobile devices, software and services helped it overcome a slowdown in sales in other hardware categories. "While economic uncertainty continues to persist, certain end-markets experienced improved customer spending during the first quarter of 2025," the company said in a statement. Revenue from its public segment, which sells to customers in the healthcare and education industries among others, rose 10.3% to $1.88 billion. Net sales from the company's corporate segment, the largest contributor to revenue, rose 6.3% from a year earlier to $2.23 billion. The Vernon Hills, Illinois-based company provides IT solutions such as cloud services, cybersecurity, and distributes hardware to enterprise, government, and healthcare clients across the United States, the United Kingdom, and Canada. CDW sources IT hardware and software from leading global vendors including Cisco, HP, Dell Technologies and Microsoft. It reported net sales of $5.20 billion in the quarter ended March 31, beating analysts' average estimate of $4.93 billion, according to data compiled by LSEG. On an adjusted basis, CDW earned $2.15 per share in the quarter, compared with estimates of $1.96 per share. (Reporting by Meghana Khare; Editing by Sahal Muhammed)
