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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 .
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