Gartner research, consulting revenue up
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US-- Gartner's research division posted record contract values of $834.3m in the fourth quarter of 2008, an 8% increase over the previous year, the IT market analyst reported today.
Research revenue was up 5% to $190.2m in the quarter, as the firm won business from 201 new clients. Consulting revenue rose 3% to $94.3m.
Factoring in double-digit declines in the firm's event business and other activities, total revenue rose 1%, or 6% at constant currency, to $347.3m.
For the full year, the research division posted a 15% jump in revenue to $773.3m while revenue in the consulting business was up 7% to $347.4m.
CEO Gene Hall said: “These results are a testament to the fact that both existing clients and potential new clients recognise that our research is a critical tool in running a cost-effective IT programme.”
He 2009 was a “very difficult year to forecast” because of the global economic situation, but expects research revenue to be “roughly flat” for the year, despite a continued demand from clients.
Hall explained that customer were facing more “approval hurdles” before investing. “Aside from facing lay-offs, bankruptcies, and other organisational chaos in the current environment,” he said, “many of our clients and potential clients must often get CFO approval even for the relatively small amount of spending required for a Gartner research subscription.”
Author: James Verrinder
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