(Reuters) – IT solutions provider CDW missed its third-quarter revenue estimates on Wednesday due to reduced demand for its hardware solutions as customers cut spending amid inflationary pressures, making its shares fell 7.2% in pre-market opening.

The Vernon Hills, Ill.-based company said strong performance in its cloud solutions and endpoint services was offset by lower demand for hardware solutions.

CDW provides products and services ranging from hardware and software to integrated IT solutions such as security, cloud and hybrid infrastructure to businesses, government, education and healthcare in the US, UK -United and Canada.

“Continuing economic uncertainty and the increasing complexity of the technology landscape have resulted in a lengthened decision-making process for customers and project delays,” said Albert Miralles, CFO of CDW.

The company reported net revenue of $5.52 billion in the third quarter, missing analysts’ estimate of $5.72 billion, according to data compiled by LSEG.

On an adjusted basis, it earned $2.63 per share, compared to estimates of $2.85 per share.

Its gross profit margin for the quarter was 21.8%, flat on an annual basis.

(Reporting by Harshita Mary Varghese in Bangalore; Editing by Pooja Desai)