Gartner Inc. (NYSE:IT) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Gartner Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 8.33% to $0.39 in the quarter versus EPS of $0.36 in the year-earlier quarter.
Revenue: Rose 10.19% to $406.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Gartner Inc. reported adjusted EPS income of $0.39 per share. By that measure, the company missed the mean analyst estimate of $0.4. It missed the average revenue estimate of $408.16 million.
Quoting Management: Gene Hall, Gartner’s chief executive officer, commented, “We continue to see robust demand for our services across all three segments. Research Contract Value grew 14% on an FX neutral basis with all geographies, industries, and client sizes growing at double digit rates. Our Events business grew 20% with equally strong growth in both attendee and exhibitor revenue in Q1. While Consulting had a slightly slower start than we expected, our backlog and pipeline for Q2 are strong. We remain highly confident we will achieve the guidance we set for the current year.”
Key Stats (on next page)…