Forrester Revenue Flat for Q3

Forrester Research has reported third quarter revenue of $108.6m, a fraction down on last year's figure in like-for-like terms. However, CEO George Colony says demand for services increased during the pandemic.

Research division revenue for the 2020 period was down slightly at $72.8m, compared with $74.5m in Q3 2019. For the Consulting division, third quarter revenue rose to $34.6m from $32.6m a year earlier; while the Events arm saw revenue dip slightly to $1.1m from $1.4m last year.

Total company adjusted revenue, excluding that from the acquisition of SiriusDecisions, were $108.7m for the third quarter of 2020, compared with $110.3m for previous year's third quarter. On a GAAP basis, net loss was $3.8m, compared with a net loss of $2.7m for the same period in 2019; whereas on an adjusted basis, this year's Q3 net income was $4.6m, down from $6.5m a year earlier.

Colony (pictured) comments: 'Businesses are relying on Forrester for guidance on how to deal with the pandemic and ramp up their own critical digital offerings. As a result, demand for our research and consulting services increased in the third quarter. We are honored by the trust and confidence our clients have placed in Forrester to help them navigate challenging times and build customer-obsessed growth strategies'.

Web site: www.forrester.com .

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