Gartner Reports Strong Rise in Q1 Research Revenue

Tech research and advisory firm Gartner has reported an 8% increase in revenue in its Research segment, to $825m for the three months ended March 31st - equivalent to an 11% rise on a constant currency basis.

Gartner's Conferences arm reported a 13% increase in revenue to $52m (17% in constant currency terms), and the Consulting segment was up 12% to $93m (+16% constant currency).

Overall for the group, first quarter revenue increased 1% to $1.0bn, or 4% on a foreign currency-neutral basis - this was due to the divestment during the year of all of the non-core businesses that made up the company's 'Other' segment, which in Q1 2018 added $70m to the group total. Adjusted EBITDA of $142m decreased 2% year over year on a reported basis and was flat at constant currency. Total contract value was up 11% on the same basis, reaching $3.1bn.

For the full year 2019, Gartner is predicting revenues of between $4.22bn and $4.32bn. CEO Gene Hall (pictured) commented: 'Demand for our services is strong as clients recognize the incredible value of the services we offer. The acceleration we saw last year in Global Technology Sales, our largest and most important business, continued in the first quarter of 2019. Our ongoing investments in our business keep us well-positioned for sustained, long-term, double-digit growth'.

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.