Gartner Reports Double-Digit Third Quarter Growth

Technology analyst Gartner has reported a 16% rise in third quarter Research division revenue to $461.5m - or a 17% increase excluding the impact of foreign exchange.

On a reported basis, group third quarter total revenue increased 15% to $574.1m; net income was $30.5m; and Normalized EBITDA increased 14% to $91.0m. For the nine months ended September 30th, total revenue was up 15% to $1.74bn; net income was $127.1m; and Normalized EBITDA rose 15% to $312.0m.

The Research division's third quarter 2016 and 2015 client retention was 83% and 84%, respectively, while wallet retention was 104% in the 2016 quarter, compared to 106% in the 2015 quarter. On both a reported basis and excluding the foreign exchange impact, the Consulting division saw third quarter revenue increase 6% to $79.1m, while the Events team saw revenue increase 14% to $33.5m.

CEO Gene Hall (pictured) comments: 'We delivered another quarter of double-digit growth in all our key metrics. As we enter the fourth quarter of the year, we have great momentum, a very robust pipeline and strong operational execution. Our results demonstrate the incredible value we deliver to our clients. I am excited about our business and our ability to achieve long term growth in cash flow and earnings'.

Web site: www.gartner.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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