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Gartner Doubles Q2 Profit
US-based technology consultancy Gartner has more than doubled its quarter two profit to $29.9m, compared with $14m a year ago. Overall, revenue rose 17% to $343.9m, while income from the firm's research arm - which accounts for more than half its total - grew by 20% to $195.8m.
For the full year, the company has reiterated its earnings forecast of 88 to 98 cents a share from continuing operations, and predicts revenue of $1.28bn to $1.31bn. Gartner expects its research unit to have revenue between $780m to $790m for the period.
Yesterday, Gartner saw its share price close at $23.34. The firm, which is headquartered in Stamford, CT and employs 4,000 associates, including 1,200 research analysts and consultants in 80 countries, is online at www.gartner.com .
In May, Analysts at sector specialist Outsell were forecasting 9-10% revenue growth for Gartner's sector, which it calls ITTRRS (IT & Telecom Research, Reports & Services), during 2008.
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