NEWS6 May 2010

Gartner toasts double-digit growth in research revenue

Financials North America

US— IT researcher Gartner has posted an 8% increase in revenue to $295.8m for the first quarter of 2010, compared to $273.5m in the same period last year.

Of this, research revenue accounted for $210.7m, which was up 12% on last year’s figure of $187.6m, or 8% excluding the impact of foreign exchange.

Research contract value for the period was up 14% to $864.4m while client and wallet retention rates were 80% and 89% respectively, up from 78% and 87% last year. Consulting revenue rose 2% to $71.6m

Gartner CEO Gene Hall (pictured) said: “2010 is off to a great start for Gartner. The positive momentum in our business trends that began in the second half of 2009 has continued this year and we have returned to solid year-over-year growth. During the first quarter, we generated double-digit revenue and contract value growth in our research segment and exceeded our earnings expectations. We are on track to deliver double-digit revenue and contract value growth for the full year”

The firm has predicted total revenue for the year to be between $1.25bn and $1.29bn, with research activities responsible for between $845m and $865m.

Meanwhile, Gartner has moved senior vice president of global sales Diane Julian, who has been with the firm for the past 20 years, to the newly created role of senior vice president of strategy.

David Godfrey has been promoted from group vice president of sales to senior vice president and will succeed Julian as head of global sales.