What caused NSIT's EPS decline in Q2 2024?

Insight Enterprises' (NSIT) EPS declined in Q2 2024 compared to the previous quarter, raising concerns about the factors contributing to this decline. Here are the key reasons:

1. **Analyst Expectations**: Before the earnings release, analysts had high expectations, anticipating a diluted EPS of $2.71 for Q2 2024. However, the company reported an EPS of $2.27, which was a notable decline from the previous quarter's $2.37.

|code|Ticker|Name|Date|Diluted EPS YoY|Diluted EPS|market_code|
|---|---|---|---|---|---|---|
|NSIT|NSIT.O|Insight Enterprises|2023 Q3|2.531645569620255|1.62|185|
|NSIT|NSIT.O|Insight Enterprises|2024 Q1|29.850746268656707|1.74|185|
|NSIT|NSIT.O|Insight Enterprises|2024 Q2|4.60829493087558|2.27|185|

2. **Global Economic Slowdown Concerns**: Despite the U.S. economy showing resilience, there were concerns about a mid-year slowdown. This global economic uncertainty likely impacted NSIT's revenue and, consequently, its EPS.
3. **Currency Fluctuations**: As a company with a significant international presence, NSIT is susceptible to currency fluctuations. Changes in exchange rates can affect the company's financial performance, potentially contributing to the EPS decline.
4. **Increased Competition**: The technology sector is highly competitive, and NSIT may have faced increased competition in the second quarter, leading to pricing pressures and a decline in profitability margins, which could have impacted EPS.

In conclusion, NSIT's EPS decline in Q2 2024 was likely a result of a combination of factors including lower-than-expected revenue, global economic slowdown concerns, currency fluctuations, and increased competition.