Gartner, Inc. (NYSE:IT) Reports 16% Jump In revenue

Gartner, Inc. (NYSE:IT) a technology market research firm today stated that the company’s net income for the 2nd quarter increased by 60% as the revenue from research work increased during the period beating the analyst expectations as a result of which the company’s stock rose.

The company’s net income amounted to $32.2 million, or 32 cents per share, in comparison with $20.1 million, or 20 cents per share, earned in the 2nd quarter in 2010.

The company earned 34 cents per share after excluding all special costs which was 3 cents more than what analysts expected, according to FactSet.

Revenue of the company went up by 16% to $365.5 million, as revenue from research work went up by 20% to $250 million and revenue from consultancy went up by 3% to $78 million further more the revenue generated from Events went up by 28% to $37.6 million.

Analysts on the other hand expected the company’s earning of $356.3 million in revenue.

The company projected its fresh revenue outlook for the rest of the year, expecting revenue of $1.44 billion to $1.49 billion in spite of $1.43 billion to $1.46 billion that had been previously forecast. The company further expects a profit of $1.33 to $1.45 per share after excluding all restructuring cost.

Analysts however have predicted revenue of $1.46 billion and earnings of $1.41 per share.

The company’s  shares increased by  70 cents to $38.04 during the afternoon trading hours.


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