Gartner Inc Reports Third Quarter 2024 Financial Results
Gartner, Inc. Reports Third Quarter 2024 Financial Results
Gartner, Inc. (NYSE: IT) has announced its financial results for the third quarter ending September 30, 2024. The financial performance exceeded market expectations.
Key Financial Metrics
Metric | Q3 2024 | YoY Change | Consensus Estimates |
---|---|---|---|
Revenue | $1.5B | +5.4% | $1.48B |
Net Income | $415M | +130.6% | N/A |
Diluted EPS | $5.32 | +135.4% | N/A |
Adjusted EPS | $2.50 | -2.3% | $2.38 |
Adjusted EBITDA | $340M | +2.1% | N/A |
Operating Cash Flow | $591M | +78.5% | N/A |
Free Cash Flow | $565M | +86.8% | N/A |
Gartner delivered revenue and adjusted EPS figures that surpassed consensus estimates, with revenues slightly ahead at $1.5 billion. The company also posted a significant increase in net income and diluted EPS.
Revenue Performance by Segment
Segment | Revenue | YoY Change |
---|---|---|
Global Technology Sales (GTS) Contract Value | $3.9B | +6.1% |
Global Business Sales (GBS) Contract Value | $1.2B | +11.6% |
Both the GTS and GBS segments showed strong growth, underpinned by a substantial increase in contract values, reflecting robust demand across technology and business sectors.
Key Developments and Operational Highlights
- Contract Value : Reached $5.0 billion, a growth of 7.3% year-over-year on a foreign exchange-neutral basis.
- Enhanced client value proposition supporting sustained double-digit growth outlook.
Executive Commentary
Gene Hall, Chairman and CEO, emphasized that performance in revenue, adjusted EBITDA, and adjusted EPS exceeded expectations. He reiterated the company's commitment to achieving long-term, sustained growth due to its compelling client offerings and large addressable market.
Forward Guidance
Gartner maintained a positive outlook for continued growth, emphasizing sustained performance across its segments.
Stock Price Movement
Following the earnings announcement, Gartner's stock experienced a modest increase of approximately 0.27%.
Overall, Gartner's third quarter performance was robust, illustrating strong execution and a promising outlook for sustained future growth.
Share