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.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool recommends Gartner. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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