Stock Alert: Gartner Shares Drop 4%

(RTTNews) - Shares of research and advisory company Gartner Inc. (IT) are losing almost 4 percent in the morning trade on Tuesday, to $157.92 in spite of its quarterly results beating expectations. The stock has been trading in a range of $124.77 to $171.78 in the past 52 weeks.

Tuesday, Gartner reported a decline in its profit for the fourth quarter from last year, while its adjusted earnings beat analysts' estimates. Earnings for the period stood at $67.70 million or $0.75 per share, down from $84.02 million or $0.92 per share in the year-ago period.

Excluding items, adjusted earnings for the quarter were $1.18 per share, compared to $1.20 per share last year. On average, analysts polled by Thomson Reuters had expected the company to earn $0.81 per share.

Revenue for the quarter rose 11 percent to $1.20 billion from $1.09 billion last year.

For fiscal 2020, Gartner expects adjusted earnings per share of approximately $4.06. The Street expects the company to report earnings of $4.01 per share.