Gartner Q2 Profit Beats Estimates, Revenue Misses

(RTTNews) - Information technology research and advisory company Gartner, Inc. (IT) Thursday announced a four percent decline in second quarter net income to $51.16 million from $53.04 million last year. Earnings per share increased five percent to $0.61 from $0.58 last year. Excluding acquisition adjustment, earnings rose to $0.65 from $0.64 last year.

On average, 11 analysts polled by Thomson Reuters expected the company to earn $0.63 per share. Analysts estimates usually exclude special items.

Total revenue for the quarter increased five percent to $547.94 million from $519.82 million in the previous year. Excluding the foreign exchange impact, revenues were up 12 percent. Wall Street was looking for $550.17 million.

Looking ahead to 2015, the company expects 4 to 13 percent increase in earnings in a range of $2.11 to $2.30 per share, while excluding acquisition adjustments, projects a growth of 1-10 percent growth in a range of $2.27 to $2.46 per share. The Street projection is for $2.38 per share on revenue of $2.17 billion.

Total revenue is expected to grow 6 to 9 percent in a range of $2.150 to $2.205 billion.