Strong Results for Gartner in Q3

Technology consultancy Gartner has reported results for the third quarter, with revenue down just 1% (constant currency) at $995m, and adjusted EBITDA up 19.4% on the same basis to $168m. Excluding the Conferences segment, revenue rose by around 5%.

The group also said free cash flow improved - up 24.9% to $229m, while contract value was up 5.3% to $3.4bn. Net income dropped sharply, to $17m from $41m a year earlier.

CEO Gene Hall (pictured) says the firm has delivered 'strong performances' in the key areas and notes: 'We raised guidance for the full year as demand is tracking above our prior expectations. We expect to deliver tremendous value to our clients which will drive long-term, sustained double-digit growth in cash flow for our shareholders'.

The good group results came despite an inevitable collapse in revenue from Conferences - down 81.1% to $13m in the quarter - and a slight decline in the Consulting division (down 5.6% to $89m). The key Research division, which accounts for almost 90% of the company's sales, saw revenue up 5.8% to $893m.

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.