Gartner Revenue Close to $6bn Despite Slower Q4 Growth

Technology consulting firm Gartner has reported full year revenue of $5.9bn, up 8%, and adjusted EBITDA of $1.5bn, up 2% after allowing for currency changes. Revenue growth slowed again and EBITDA fell slightly in the fourth quarter.

Q4 revenue was $1.6bn, up 4% after allowing for currency changes, and adjusted EBITDA $386m, down 9% on the same basis. The Research segment, by far the largest with revenue of $1.24bn, was up 5% and Conference revenue continued its bounce-back with growth of 12% to $214m, but the Consulting segment saw a decline of 7% to $128m.

Chief Executive Gene Hall (pictured) says 2023 was 'another strong year... generating more than $1 billion of free cash flow'. He comments: 'Entering 2024, our associate team is the best we've ever had, positioning us for long-term, sustained, double-digit growth. We are introducing guidance which is achievable across a wide range of economic scenarios, with the opportunity for upside'.

The global group's revenue grew 20% in 2022 (FX neutral), helped by a huge resurgence in the Conference division post-Covid, but has also shown signs of slowing somewhat each quarter for the past year (14.3% in Q1, 10% in Q2, and 4.9% in Q3).

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.