Gartner Inc Reports Third Quarter 2024 Financial Results
Intellectia.AI
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.
For more in-depth analysis and insights, stay tuned with our platform to stay ahead of the market.
Share
Want more financial insights delivered directly to your inbox?
Subscribe now and receive handpicked financial news, insights, and trending topics.
