Gartner Research Revenue Jumps in Second Quarter

US-based IT industry analyst Gartner has reported a 17% constant currency increase in second quarter revenue for its Research division, to $449.2m.

The division's quarterly gross contribution margin was 70% in both the second quarter of 2016 and 2015; and at June 30th, 2016, total contract value was $1.75bn, an increase of 9% on a reported basis and 13% at constant currency, versus a year previously.

In Gartner's Consulting division, second quarter revenue increased 6% to $94.1m, while in the Events team it fell 10% to $66.8m due to changes in the firm's events calendar. Both percentages were the same whether reported or at constant currency.

Overall for the group, revenue was up 12% at constant currency to $610.0m during the quarter. Second quarter 2016 net income fell 6% to $47.9m, and normalized EBITDA rose 5% to $117.7m, again at constant currency. For the six months ended June 30th, total revenue was $1.17bn, an increase of 16%. Net income was $88.1m, while Normalized EBITDA was $221.0m.

CEO Gene Hall (pictured) commented: 'We are well on track to deliver another year of double-digit growth in contract value, revenue and earnings, coupled with strong cash flow conversion. We consistently deliver tremendous value to our clients which results in long-term growth in cash flow and earnings to our shareholders'.

Web site: www.gartner.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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