Gartner Raises Guidance

(RTTNews) - Gartner, Inc. (IT) said it delivered strong first-quarter with double digit growth in contract value, revenue, adjusted EBITDA, and Adjusted EPS. Looking forward, the company increased guidance for 2023. Adjusted EPS is now expected to be $9.50, revised from previous guidance of $8.80. Total revenue is now projected to be $5.90 billion, revised from previous guidance of $5.86 billion.

First quarter earnings came in at $295.8 million, or $3.68 per share compared with $172.5 million, or $2.08 per share, last year. Excluding items, Gartner reported adjusted earnings of $2.88 per share, up 23.6%. Analysts on average had expected the company to earn $2.00 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.9% to $1.41 billion from $1.26 billion last year. Analysts on average had estimated $1.4 billion in revenue. For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.