Filing Flows › CDW (CDW) › Q2 2026 › vs Q1 2026
CDW (CDW) Q2 2026 vs Q1 2026 (quarter over quarter)
CDW's revenue rose $892M (+16%) from $5.7B in Q1 2026 to $6.6B in Q2 2026. The biggest changes: Hardware +$753M (+18%); Other Hardware +$55.2M (+10%); Collaboration +$41.2M (+10%). Gross margin 20.1% against 21.0% (-0.9 pts).
CDW, Q2 2026: revenue $6.6B (+10% year over year), operating margin 6.5%, net earnings $274M, operating cash flow −$55.1M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 20.1% | 21.0% | -0.9 pts |
| Operating margin | 6.5% | 6.6% | -0.1 pts |
| Net margin | 4.2% | 4.1% | +0.0 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Notebooks/Mobile Devices | $1.8B | $1.4B | $342M | +24% |
| Software | $1.1B | $1.1B | $59.4M | +6% |
| Data Storage and Servers | $845M | $687M | $158M | +23% |
| Netcomm Products | $830M | $675M | $155M | +23% |
| Desktops | $372M | $332M | $40.0M | +12% |
| Hardware | $4.9B | $4.2B | $753M | +18% |
| Other Hardware | $634M | $579M | $55.2M | +10% |
| Services | $521M | $480M | $40.2M | +8% |
| Collaboration | $472M | $431M | $41.2M | +10% |
| Other | $32.2M | $29.5M | $2.7M | +9% |
| Revenue | $6.6B | $5.7B | $892M | +16% |
| Gross profit | $1.3B | $1.2B | $130M | +11% |
| Cost of revenue | $5.3B | $4.5B | $763M | +17% |
| Operating profit | $429M | $376M | $52.6M | +14% |
| Operating expenses | $891M | $814M | $77.2M | +9% |
| Pre-tax earnings | $373M | $319M | $53.9M | +17% |
| Other expense, net | $55.7M | $57.0M | −$1.3M | -2% |
| Net earnings | $274M | $235M | $39.0M | +17% |
| Income tax | $98.5M | $83.6M | $14.9M | +18% |
| Operating cash sources | $433M | $57.8M | $375M | +649% |
| Depreciation & amortization | $75.1M | $75.1M | $0 | 0% |
| Share-based compensation | $28.1M | $22.1M | $6.0M | +27% |
| Cash used in operations | $55.1M | −$275M | $330M | — |
| Working capital & other | $433M | $57.8M | $375M | +649% |
Questions
How much did CDW's revenue grow quarter over quarter in Q2 2026?
CDW's revenue rose $892M (+16%) from $5.7B in Q1 2026 to $6.6B in Q2 2026.
What drove CDW's revenue change in Q2 2026?
Hardware +$753M (+18%); Other Hardware +$55.2M (+10%); Collaboration +$41.2M (+10%).