Company raises guidance and sees biggest one-day gain in over three years
- Gartner’s stock soars to a record high after beating earnings expectations
- Full-year guidance raised, leading to biggest one-day gain in over three years
- Company benefits from uncertain macroenvironment and increased demand for tech consulting
- Net income rises to $180 million, beating expectations
- Revenue grows 5.8% to $1.41 billion, exceeding consensus estimates
- Research revenue up 6.2%, consulting revenue up 24.1%, conferences revenue down 25.7%
- Gartner repurchases 600,000 shares and increases stock-buyback authorization by $500 million
- 2023 guidance raised for adjusted EPS and revenue
Shares of Gartner Inc. surged to a record high after the company reported third-quarter earnings that exceeded expectations and raised its full-year outlook. The company benefited from an uncertain macroenvironment, with increased demand for its tech consulting services. Net income rose to $180 million, beating expectations, while revenue grew 5.8% to $1.41 billion, surpassing consensus estimates. Research revenue increased by 6.2%, consulting revenue jumped by 24.1%, and conferences revenue declined by 25.7%. Gartner also repurchased 600,000 shares and increased its stock-buyback authorization by $500 million. The company raised its guidance for adjusted EPS and revenue for 2023. This strong performance led to Gartner’s stock experiencing its biggest one-day gain in over three years.
Factuality Level: 8
Factuality Justification: The article provides specific information about Gartner Inc.’s third-quarter earnings, including net income, adjusted earnings per share, and revenue. It also includes quotes from the company’s CEO and information about stock performance. The information is supported by sources and financial data. However, the article does not provide any opposing viewpoints or potential risks or challenges that Gartner Inc. may face.
Noise Level: 3
Noise Justification: The article primarily focuses on the financial performance of Gartner Inc. and provides details about its earnings, revenue, and stock performance. It includes quotes from the company’s CEO and mentions the external challenges faced by the tech sector and banking industry. However, the article lacks in-depth analysis, scientific rigor, and intellectual honesty. It does not explore the consequences of Gartner’s decisions or provide actionable insights or solutions. The article also contains filler content, such as a request for feedback on text-to-speech technology, which is unrelated to the main topic.
Financial Relevance: Yes
Financial Markets Impacted: Shares of Gartner Inc.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to the financial performance of Gartner Inc., a technology research and consulting company. There is no mention of any extreme events or their impact.
Public Companies: Gartner Inc. (IT)
Key People: Eugene Hall (Chief Executive)
Reported publicly:
www.marketwatch.com 
