Double-Digit Growth for Gartner Research Arm

Technology specialist Gartner has reported a 12% rise in second quarter revenue for its Research division, which brought in $311.2m.

The division, which accounts for 69% of Gartner's overall revenue, saw contract value increase 13% to $1.29 billion during the quarter, while client and wallet retention were 82% and 97% compared with 83% and 99% for the prior year period. In the company's two other business lines, Consulting reported a 12% rise in Q2 revenue to $85.9m, and Events saw revenue increase 15% to $48.9m.

For the group as a whole, second quarter total revenue was up 12% to $446.0m, net income increased 12% to $46.5m, and normalized EBITDA rose 14% to $89.9m, while for the six months ended June 30, 2013, total group revenue was up 11% to $852.8m, net income increased 10% to $83.2m, and normalized EBITDA was up 10%, to $165.0m.

CEO Gene Hall (pictured) comments: 'Our second quarter results continued our trend of delivering consistent double-digit growth. Despite a mixed economic environment, we continue to see robust demand for our services across all three segments, which illustrates both the value we provide to our clients and the market opportunity for our services. We remain confident in our ability to deliver on our long term goals for double-digit growth in revenues, earnings and cash flow.'

Web site: www.gartner.com .