Gartner Q3 Earnings Down; But Lifts Annual Outlook - Quick Facts

(RTTNews) - Market research firm Gartner, Inc. (IT) Thursday reported a drop in earnings for the third quarter, as a rise in expenses masked revenue growth. The company, however, raised its annual sales guidance and lifted the bottom end of its earnings outlook.

Net earnings declined to $33.85 million or $0.38 per share, from $38.19 million or $0.40 per share a year earlier.

Earnings, excluding certain items, were $0.44 per share, compared with $0.41 per share a year earlier.

On average, analysts polled by Thomson-Reuters estimated earnings to be $0.39. Analysts' estimates typically exclude one-time items.

Revenues increased 15 percent to $470.94 million, from $410.7 million last year, above the $458.03 million Wall Street expected.

Looking ahead, the company raised the bottom end of its annual earnings outlook to $2.05 - $2.14 per share, from the prior outlook of $1.97 - $2.14 per share. Similarly, it raised the bottom end of its annual adjusted earnings guidance to $2.26 - $2.35 per share, from $2.18 - $2.35 per share previously projected.

Further, Garnet lifted its full-year revenue guidance to $2 billion - $2.03 billion, from the prior guidance of $1.96 billion - $2 billion.