Gartner Earnings Grow, but Investors Shrug
Shares of Stamford, Conn.-based Gartner Inc slipped 1.2% in Thursday trading, following the release of a Q3 2013 earnings report that showed the industry research house growing revenues by 10% year over year, to $410.7 million, but falling short of consensus expectations nonetheless.
Earnings for the quarter grew twice as fast as revenues, but at $0.40 per share, only matched consensus expectations.
Commenting on the results, Gartner CEO Gene Hall boasted of how the company had delivered "double-digit growth in each of our key financial metrics... despite a mixed global economic environment." But investors seemed unimpressed by the results.
Looking forward, Gartner continues to expect to end this year with revenues ranging from $1.76 billion to $1.8 billion, representing year-over-year growth of between 9% and 12%. Earnings should range from $1.90 to $2.04 per share -- growth of 10% to 18% -- with free cash flow growing similarly quickly, ranging from $259 million to $278 million for the year.
The article Gartner Earnings Grow, but Investors Shrug originally appeared on Fool.com.
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