Gartner raises annual profit forecast on steady demand for IT services

Gartner

30/04/2024 12:04

April 30 (Reuters) - Information technology consultant
Gartner  IT.N  beat first-quarter profit and raised its annual
earnings forecast on Tuesday, as it expects to benefit from
steady demand for its research and consulting services.
    The company, a dominant player in the data and analytics
market, expects full-year adjusted earnings of about $10.90 per
share, up from its previous expectation of $10.55.
    It reported an adjusted profit of $2.93 per share in the
first quarter, above estimates of $2.53, according to LSEG data.
    Gartner's research segment, which accounts for more than
half of its revenue, rose 4% to $1.27 million, primarily driven
by growth in subscriptions and contract renewal by customers.
    Its consulting segment recorded a 6% rise in revenue to
$134.6 million.
   Gartner, which helps its customers make business decisions
through data and analytics, posted revenue of $1.47 billion,
in-line with analysts' average estimate.
    The company also downgraded its annual revenue forecast to
$6.20 billion from its earlier forecast of $6.24 billion.

 (Reporting by Priyanka.G in Bengaluru)
 ((Priyanka.G@thomsonreuters.com;))