Back to top

Gartner (IT) Comfortably Beats on Q2 Earnings, Updates View
August 08, 2017

Read MoreHide Full Article

Gartner, Inc. (IT - Free Report) is reportedly the world’s leading information technology research and advisory firm. The company offers rich domain expertise and technology-related insight necessary for informed decision-making process. Over the years, IT’s comprehensive services portfolio has enabled customers across the spectrum to research, analyze and interpret the business with greater precision, efficiency, and discipline. The top-line growth of the company is expected to benefit from improved end-market demand, new product rollouts and market share gains.

However, some of IT’s services are cyclically sensitive. In addition, revenue from the federal government business is exposed to lengthy approval times and other austerity measures, which often increase operating risks. As the extent of competition is increasing over time, investors have been eagerly awaiting for the company’s latest earnings report. In the last four trailing quarters, IT has reported a positive average earnings surprise of 4.6%, beating estimates thrice.

Currently, IT has a Zacks Rank #2 (Buy), but that could definitely change following the second-quarter 2017 earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: IT beats on earnings. IT reported adjusted earnings of 88 cents per share, which exceeded the Zacks Consensus Estimate of 83 cents.     

Gartner, Inc. Price and EPS Surprise

 

Gartner, Inc. Price and EPS Surprise | Gartner, Inc. Quote

 

Revenues: Quarterly revenues beat estimates. IT recorded adjusted revenues of $935.3 million, well ahead of the Zacks Consensus Estimate of $920 million.   

Key Stats to Note: IT has reorganized its operating segments post the acquisition of CEB. IT has updated its earlier guidance for full year 2017. The company currently expects GAAP revenues in the range of $3,225–$3,320 billion, compared with earlier expectations of $3,219–$3,314 billion, and adjusted EPS in the range of $3.32–$3.49, compared with $3.32–$3.60 expected earlier.

Stock Price: Shares prices did not show any movement in pre-market trading at the time of writing.

Check back our full write up on this IT earnings report later!

Looking for Stocks with Skyrocketing Upside?

Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.

Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>




In-Depth Zacks Research for the Tickers Above


Normally $25 each - click below to receive one report FREE:


Gartner, Inc. (IT) - free report >>


More from Zacks Tale of the Tape

You May Like