Gartner Revenue Maintains Growth in Q3

Tech research and consulting giant Gartner has reported 3rd quarter revenue of $1.505 billion, up 2.4% on a like-for-like basis; and adjusted EBITDA of $364 million, up 7.4%.

Reported revenue was down 1.3% - the adjusted figure takes account of a divested digital markets business as well as currency movements. The Insights division, which now represents more than 90% of the business, grew 1.7% to $1.292bn, while Consulting was up 2.3% to $126m and the more volatile Conferences division added 15.4% to reach $86m.

Chairman and CEO Gene Hall said in the statement: 'Contract Value growth accelerated again. Revenues, Adjusted EBITDA excluding divested operation, Adjusted EPS, and free cash flow were ahead of expectations. We repurchased $1.7 billion of stock over the last four quarters, as our capital allocation continues to create value for our shareholders. In addition, we increased our full year Revenues, Adjusted EBITDA excluding divested operation, Adjusted EPS, and free cash flow guidance.'

While the results are unspectacular by Gartner's long-term standards, they are a slight, continued improvement on the first two quarters of this year.

The company is on the web at www.gartner.com .