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October 19, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

Gartner posts 44 percent revenue increase

Gartner Inc. reported total third-quarter revenue of $828.1 million, a massive increase of $254 million over third quarter 2016. Still, net loss was $48.2 million and operating loss was $24.3 million for the quarter, as the research and advisory firm continues to absorb the costs of its acquisition of technology and insights firm CEB.

For the nine months ended Sept. 30, total revenue was approximately $2.3 billion, an increase of 32 percent. Traditional Gartner revenue increased 14 percent, with a net loss of $104 million for the period.

 

Gartner CEO Gene Hall.

Gene Hall, CEO of the Stamford company, said the business continued to “perform extraordinarily well. Our traditional Gartner business again achieved double-digit contract value growth in every geography, across every client size and in virtually every industry. We’ve successfully integrated CEB’s talented associates into Gartner and are already delivering value to our clients through a ‘best of both’ approach. I remain extremely excited about our long-term prospects for growth and delivering shareholder value.”

Gartner reaffirmed that it is exploring a range of strategic options, including possibly a sale, of its talent assessment business – a new segment resulting from the CEB acquisition. Third-quarter revenue for that segment was $57.6 million.

Revenue for its research segment was $653.4 million, up 40 percent compared with third-quarter 2016. The consulting segment’s revenue was $72.1 million, down 2 percent from the previous third quarter. Gartner’s events segment posted revenue of $45 million, a 34 percent increase from the previous third quarter.