Gartner Q2 Profit Advances, Raises Annual Earnings Outlook - Quick Facts

(RTTNews) - Technology research firm Gartner, Inc. Tuesday reported second-quarter earnings which increased amid robust overall revenue growth. The company also raised its annual earnings outlook, while reaffirming its revenue targets.

For the June quarter, net earnings increased to $53.04 million or $0.58 per share, from $46.51 million or $0.49 per share a year earlier.

Excluding acquisition-related items, earnings totaled $58.92 million or $0.64 per share, compared with $47.56 million or $0.50 per share a year earlier.

On average, nine analysts polled by Thomson-Reuters estimated the company's earnings to be $0.55 for the quarter. Analysts' estimates typically exclude one-time items.

Adjusted EBITDA stood at $105.01 million, compared with $89.91 million in the same period last year.

Quarterly revenues grew to $519.82 million, from $446.05 million last year, above the $501.87 million Wall Street expected.

For the full year, the company raised its earnings outlook to $1.97 and $2.14 per share, from $1.96 and $2.13 per share previously projected, and adjusted earnings guidance to $2.15 and $2.32, from $2.18 and $2.35 per share projected earlier.

In addition, Gartner confirmed its revenue guidance of $1.96 billion and $2.005 billion.

Analysts expect annual earnings of $2.12 per share on revenues of $1.99 billion.