Gartner Q3 Earnings Beat Estimates

  • Gartner Inc IT reported third-quarter FY22 sales growth of 15.2% year-on-year to $1.33 billion, beating the consensus of $1.29 billion.
  • Revenues from Research increased 10.7%, Conferences jumped 215.5%, and Consulting grew 13%.
  • Selling, general and administrative expenses climbed 19.6% to $613 million.
  • The operating margin was 19%, and operating income for the quarter rose 10% to $253.4 million.
  • Operating cash flow for the quarter totaled $315 million, with a free cash flow of $283 million.
  • Adjusted EBITDA for the quarter rose 8.5% Y/Y to $332 million.
  • Adjusted EPS of $2.41 beat the analyst consensus of $1.87
  • Price Action: IT shares are trading higher by 7.75% at $325.33 on the last check Tuesday.
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