Gartner Exceeds Revenue Expectations and Raises Annual Profit Forecast
Gartner surpasses Wall Street revenue estimates and increases its annual profit forecast, driven by robust demand for research and consulting services.
Bollywood Fever: Gartner, a leading research and advisory firm, topped Wall Street expectations for quarterly revenue and raised its annual profit forecast on Tuesday, buoyed by steady demand for its research and consulting services.
Gartner helps its customers make informed business decisions through data and analytics, serving approximately 15,000 enterprise clients. The company operates in three segments: research, consulting, and conferences. For the full year 2024, Gartner now expects adjusted profit to be about $11.05 per share, an increase from its previous forecast of $10.90.
In the second quarter, revenue from Gartner’s research segment, which accounts for more than half of its total revenue, reached $1.27 billion, marking a 5% increase from the previous year. The conference and consulting businesses posted even stronger growth, with quarterly revenue rising by 10.2% and 13%, respectively.
“Contract value in the second quarter grew high single digits, accelerating from Q1,” said Gartner CEO Eugene Hall, highlighting the company’s momentum.
Total revenue for the quarter ended June was $1.60 billion, up 6% from the previous year and surpassing analysts’ average estimate of $1.59 billion, according to LSEG data. Adjusted profit came in at $3.22 per share, exceeding the analysts’ estimates of $3.02.
Gartner’s strong performance across all segments underscores the ongoing demand for its comprehensive data-driven insights and advisory services, positioning the company well for continued growth.
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