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'Exciting' Quarter for Gartner
Global research and advisory firm Gartner has reported a 19% increase in revenues to $1.0bn for the three months ended June 30th, while EBITDA rose 11% to $191m. CEO Gene Hall says he continues to be excited about the business.
 Gartner's Research division, its largest, saw a 25% increase in revenue to $770m, compared with Q2 of 2017, and in the first half of the year revenue was up 36% to $1.5bn from $1.3bn in H1 2017. Segment results include the operating results of best practice and talent management insights firm CEB, which Gartner acquired at the beginning of 2017, although the firm divested the CEB Talent Assessment and CEB Workforce Survey & Analytics businesses in second quarter 2018. The Events segment saw revenue increase 22% to $111m from $91m in Q2 2017, while Consulting revenues were up just 5% to $96m from $92m in the same period last year. 'Other' (previously called 'Talent Assessment & Other') experienced a 51% drop in revenue to $23m from $47m a year earlier, following the divestments.
During the period, the firm sold several non-core assets for $406m in net cash, and it repurchased 0.5 million common shares for $68m and paid down $554m of debt.
Hall (pictured) comments: 'I continue to be excited about our business, our prospects for growth and our strategy to drive long-term value for our shareholders. Our strong Q2 results demonstrate we know the right things to do to drive success in our business by applying the Gartner formula. With the capability to address critical client needs in technology and in business across every major function in the enterprise, we remain in an outstanding position to provide sustained double-digit growth across all our key metrics'.
Web site: www.gartner.com .
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