Ingram Micro Cuts Q3 Guidance as Tech Demand Slows

In another signal that demand for technology goods is slowing, Ingram Micro (IM) this morning reduced its guidance for its fiscal third quarter ending September 27.

Ingram, the world’s largest IT distributor, now sees Q3 revenue of $8.3 billion to $8.6 billion, with profits of 18-23 cents a a share, including 2 cents a share in costs related to an expense-reduction plan in North America and Europe. The company had previously forecast sales of $8.5 billion to $8.8 billion, with profits of 31-36 cents a share, including 3 cents a share in expense-reduction related expenses.

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