Growth and Launch for Forrester

Technology consulting firm Forrester Research has reported revenue up 7% to $113.8m for the first quarter of 2021. The company has also launched Forrester Decisions, described as a 'premium portfolio' of 15 new research services.

Adjusted net income of $8.6m was also an improvement on Q1 last year ($6.9m), while on a GAAP basis, net income was $4.0m, turning around a net loss of $0.5m a year earlier.

Chairman and CEO George F. Colony (pictured) said the firm had 'significantly beaten' revenue, margin and earnings expectations for the quarter, adding: 'We grew contract value bookings by 4% year over year. We have seen three quarters of sequential CV growth since the second quarter of 2020. As a result of this strong performance, we will be raising guidance for 2021'.

The new Forrester Decisions portfolio is intended 'to help clients shorten the distance between a bold vision of the future and superior business impact' - in particular navigating the changes brought about by Covid-19 and the rush to digital.

For the full year 2021 Forrester is forecasting total revenues of c.$473.0m - $483.0m, and operating margin of c. 4.5% to 5.5%.

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.