NEWS31 July 2019

Gartner second quarter revenue up

Financials News North America

US – Research and advisory company Gartner has increased its revenue by 7% in the second quarter of 2019.

In its latest financial results, the company reported revenues of $1.1bn for the quarter.

Net income was $103m, while adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) was $185m – up slightly ( 1%) from the second quarter of 2018.

Revenue from the research division was $826m according to GAAP (generally accepted accounting principles) metrics, a 7% increase.

The company updated its financial outlook from a previous forecast of $4.22-4.32bn to $4.22-4.26bn. 

During its earnings call, the company said it had revised its full-year forecast because of "modest" changes in its expected revenues and costs, including lower non-subscription revenue from its research division. 

Gene Hall, chief executive officer at Gartner, said: "We delivered another strong quarter across our three businesses: research, conferences, and consulting. We’ve equipped global business sales with the resources, training and tools to achieve success and we’re beginning to see a return. We continue to make calculated investments in our business and are well-positioned for sustained long-term, double-digit growth."