Gartner Tops Q4 Consensus; Boosts Share Buyback By $500M - Gartner (NYSE:IT)

Gartner Inc IT reported fourth-quarter FY21 revenue growth of 18% year-on-year on an FX-neutral basis to $1.306 billion, beating the consensus of $1.25 billion.
Revenues from Research rose 16.8% Y/Y to $1.1 billion, and Conferences was $107 million, up 14.8% Y/Y. Consulting revenue grew 25.5% Y/Y to $118 million.
Global Technology Sales Contract Value rose 14% Y/Y FX neutral to $3.4 billion. Global Business Sales Contract Value increased 24% Y/Y to $0.9 billion.
Adjusted EPS of $2.99 beat the consensus of $2.42.
Gartner generated $235 million in operating cash flow.
Gene Hall, Gartner's CEO, commented, "Gartner had a strong finish to an already good year, delivering contract value at the high end of our medium-term guidance, revenue growth across all three segments, and outstanding free cash flow generation."
Share Buyback: The board raised the share buyback authorization by $500 million in February 2022.
Price Action: IT shares closed higher by 0.07% at $294.85 on Monday.