Gartner 'Well Positioned' for 2024 after 4.6% Q1 Growth

Gartner has announced results for the first quarter of 2024, with revenue up 4.6% (FX neutral) to $1.473bn, and adjusted EBITDA of $382m, up 1.7% on the same basis.

Revenue in the Research division, by far the largest, rose 4.1% to $1,268m while the two smaller divisions outperformed it, Consulting growing 6.9% to $134.6m and Conferences 8.5% to $70.1m - the last is rebuilding steadily after being all but wiped out during the pandemic, but its first quarter is always quiet.

The results reverse a recent downward trend in quarterly growth percentages, but are still below long-term averages for the normally fast-growing global group. Revenue grew 20% in 2022 (FX neutral), helped by the huge resurgence in the Conference division, but slowed every quarter in 2023 (14.3% in Q1, 10% in Q2, 4.9% in Q3 and 4.0% in Q4). Nevertheless CEO Gene Hall says the figures are 'ahead of our expectations with strong profitability and free cash flow'. He adds: 'We increased our guidance for 2024 on an FX neutral basis. Gartner is well positioned for contract value growth to accelerate as we move through the year'.

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.