Gartner Reports 10% Full Year Revenue Growth

IT sector research and analysis specialist Gartner has reported a 10% increase in 2013 Q4 and full year revenue to $520.7m and $1.7 billion respectively.

During the year, revenue from its Research arm was up 12% to $1.27 billion, it increased 3% to $314m in its Consulting division, and rose 14% to $198.9m in the Events business. Overall, group operating income climbed 10% to $1.5bn for the full year, while profits also rose 10% to $182.8m.

CEO Gene Hall (pictured) comments: 'Our contract value reached an all-time high as we achieved record levels of new business and continued strong client and wallet retention. We again delivered double-digit growth in revenue, EPS and cash flow for the full year 2013. As we look ahead to 2014, we expect acceleration in contract value growth and another year of double-digit growth in our key financial metrics.'

Looking ahead, for fiscal 2014, Gartner expects total revenue of $1.940 billion to $1.985 billion.

On February 4, 2014, Gartner's Board of Directors authorized the repurchase of $800m of the company's common stock, succeeding the company's prior $500m share repurchase plan, which Gartner says 'has been substantially utilized'.

Web site: www.gartner.com .