ISG Continues Good Growth in Second Quarter

In Stamford, CT, tech research and advisory firm ISG has announced second quarter results, with reported revenue up 6.4% to $65.5 million, and EBITDA up 13% to $9.4 million. After allowing for currency effects, both figures were up around 5%.

Europe led the rise with reported revenue up 10% to $18.3m, with the Americas also faring well and enjoying a 7% rise to $42.1m. Asia Pacific revenue fell 7% to $5.1m. The firm says the quarterly revenue figure was the highest since 2023, while recurring revenues reached an all-time peak of $30 million.

Chairman and CEO Michael P. Connors (pictured) says the quarter was very strong and the first half 'excellent.' Connors comments: 'Given our strong results, our Board of Directors has authorized an additional $30 million in share repurchases, the single largest expansion of our share buyback program in our history.' He adds: 'Our unique mix of AI-centered research, advisory and governance services is proving its value in today's AI-driven market, while our cost optimization and business transformation services continue to be prized by our clients amid uncertain macro conditions.'

The results were an improvement on a first quarter which saw revenue flat on an FX-neutral basis.

The firm is on the web at www.isg-one.com .

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