Gartner Grows Revenue 5.6% in Third Quarter

Tech research and consulting firm Gartner has reported revenues of $1.5bn for the third quarter of the year, up 5.6% on a constant currency basis. On the same basis profits rose slightly: adjusted EBITDA was $340m, up 2.8%.

Third quarter revenue for the key Research segment was up 5.4% at $1.281bn, while Conferences continued its recovery, climbing 30.5% to $75.8m and Consulting fell 3.7% to $127.6m - all relative to a year previously and measured at constant currency.

The results continue a year of healthy growth, nevertheless somewhat below Gartner's standards over the past fifteen years or so - it has consistently bucked downward trends and often delivered double digit growth. Growth dropped from around 10% to below 5% in the third quarter of 2023 and has hovered around that level since - however the company is well on course to break the $6bn annual revenue mark for the first time.

Chairman and CEO Gene Hall pointed to revenue, adjusted EBITDA and adjusted EPS all 'ahead of expectations' and concluded: 'We remain on a path to long-term, sustained, double-digit growth because of the compelling client value proposition we offer and the large addressable market we serve'.

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.