Gartner posts double-digit declines in revenue and profit

US— IT market researcher Gartner has reported double-digit decreases in second quarter revenue and profits, with sales down 22% to $270m.

Research sales fell 7% to $184m while consulting revenue dropped 27% to $69m. Events were the hardest hit of the agency’s revenue streams – down 67% to $16.7m – as Gartner cut the number of conferences, summits and symposiums it holds in the period from 25 last year to 14 this year.

Operating income was down 35% to $30.7m while net income declined 43% to $17m.

CEO Eugene Hall said business performance was in line with expectations. “Many of our key metrics showed sequential improvement,” he said. “As compared to the first quarter, we increased new business in research, added significantly more new client enterprises, improved salesforce productivity and saw improvement in the trends that drive wallet retention.”

Looking forward, Hall added: “We expect contract value to grow sequentially in the second half of the year, primarily in the fourth quarter, and we expect to quickly resume revenue and earnings growth once global economic activity returns to more normal levels.”

We hope you enjoyed this article.
Research Live is published by MRS.

The Market Research Society (MRS) exists to promote and protect the research sector, showcasing how research delivers impact for businesses and government.

Members of MRS enjoy many benefits including tailoured policy guidance, discounts on training and conferences, and access to member-only content.

For example, there's an archive of winning case studies from over a decade of MRS Awards.

Find out more about the benefits of joining MRS here.

0 Comments


Display name

Email

Join the discussion

Newsletter
Stay connected with the latest insights and trends...
Sign Up
Latest From MRS

Our latest training courses

Our new 2025 training programme is now launched as part of the development offered within the MRS Global Insight Academy

See all training

Specialist conferences

Our one-day conferences cover topics including CX and UX, Semiotics, B2B, Finance, AI and Leaders' Forums.

See all conferences

MRS reports on AI

MRS has published a three-part series on how generative AI is impacting the research sector, including synthetic respondents and challenges to adoption.

See the reports

Progress faster...
with MRS 
membership

Mentoring

CPD/recognition

Webinars

Codeline

Discounts