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STAMFORD, Conn., on Tuesday, Gartner Inc. (NYSE:IT) reported fourth-quarter results that exceeded analyst expectations, sending shares up 2.25% in early trading.
The technology research and consulting firm posted adjusted earnings per share of $5.45, significantly beating the consensus estimate of $3.26. Revenue came in at $1.7 billion, slightly above the $1.69 billion analysts were expecting.
Gartner’s contract value, a key metric measuring future revenue, grew 8% YoY on a foreign exchange neutral basis to $5.3 billion.
"Fourth quarter financial results were ahead of expectations. Contract value growth accelerated," said Gene Hall, Gartner’s CEO. "Gartner delivered another strong year, providing exceptional value for our clients and shareholders, driving high single digit growth in contract value and generating almost $1.4 billion of free cash flow."
For the full year 2024, Gartner reported revenue of $6.3 billion, up 6% YoY. Adjusted earnings per share for the year were $14.09, a 24% increase from 2023.
The company’s Research segment, its largest by revenue, saw 5% growth in Q4 to $1.31 billion. The Conferences and Consulting segments posted stronger growth of 17% and 19% respectively.
Gartner generated $311 million in free cash flow during the quarter, up 59% from the prior year period. For the full year, free cash flow rose 31% to $1.38 billion.
Looking ahead to 2025, Hall said: "We will continue to accelerate hiring, keeping us on a path to long-term, sustained, double-digit growth."
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