Gartner Q1 Revenue Rise Driven by Research Increase

US-based tech research and consulting firm Gartner has reported an 11.6% increase in first quarter revenues to $1.4 billion, up 14.3% excluding the impact of foreign exchange. In the key Research division, revenue rose 7.1% on a reported basis to $1.2 billion (or 9.5% FX neutral).

Gartner has three business segments: Research, Conferences and Consulting. On a reported basis, by geographic market, the Research segment saw Q1 revenue of $809m in the US and Canada (up from $740.5m in Q1 2022), $268.6m in the EMEA region; and $139.2m in other international markets. In February, Gartner sold a non-core business, TalentNeuron, which was part of its Research segment, and realized $158.7m in cash from the sale.

Conferences revenue increased 524% to $65m; and Consulting revenues were up 10% to $127m. Overall for the group, Adjusted EBIDTA was up 15.3% to $379m from $329m in the prior year period; and net income increased 71.5% to $296m.

CEO Gene Hall (pictured) commented: 'Gartner delivered another strong quarter with double digit growth in contract value, revenue, Adjusted EBITDA, and Adjusted EPS. We are increasing our guidance for 2023 and are well prepared for a wide range of economic scenarios'.

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.