Gartner Q2 Profit Down, Adj. Results Beat Estimates

(RTTNews) - Gartner, Inc. (IT) Tuesday reported a decline in second-quarter profit. However, on an adjusted basis earnings were above analysts view.

The Stamford-based information technology company reported a quarterly profit of $205 million or $2.53 per share, compared to $271 million or $3.13 per share last year. On an adjusted basis, earnings were $231 million or $2.85 per share.

On average, 8 analysts polled by Thomson Reuters expected the company to report $2.13 per share. Analysts estimates usually exclude special items.

Revenue for the quarter increased 17.9 percent to $1.377 billion from $1.167 billion in the previous year. Analysts were looking for $1.32 billion.

Gene Hall, Gartner's Chief Executive Officer, said, "We are again raising our guidance and remain well-positioned to deliver long-term, sustained double-digit growth. And we continue to buy back stock, which will increase our per share results this year and beyond."