Gartner First Quarter Profit Rises 50%

US technology researcher Gartner has reported an 11% increase in first quarter revenue to $329.6m, with a 50% rise in net income to $29.2m, compared with $19.4m in Q1 2010. The company has now seen net income rise in the last four quarters.

The research division reported a 16% climb in Q1 revenue to $243.4m, while contract value rose 14% to $983.5m as of March 31.

In the consulting division, revenue dipped 1% to $70.6m, while the events arm recorded a 15% revenue rise to $15.5m.

CEO Gene Hall commented: 'The momentum we saw in our business during 2010 has continued into 2011. Revenue, contract value, Normalized EBITDA, and EPS all grew at double-digit rates during the first quarter putting us in a great position to deliver on our aggressive full-year growth targets. We remain committed to delivering long-term double-digit growth to both revenue and earnings.'

Web site: www.gartner.com .