Sector: Technology|Industry: Information Technology Services|Market Cap: $37.16B|Employees: 20.2K
Gartner, Inc. is a global research and advisory company that delivers actionable, objective insights to executives and their teams. The company operates through three segments: Research, Conferences, and Consulting. Gartner's market position is built on its proprietary research methodologies, extensive industry relationships, and a diversified business model, serving over 15,000 enterprises across 90 countries.
Total revenues increased to $1.5 billion, a 5% increase compared to the third quarter of 2023. This growth was primarily driven by a 5% increase in Research revenues and a 32% increase in Conferences revenues, while Consulting revenues decreased by 4%.
Net income for the quarter was $415.0 million, a substantial increase compared to $180.0 million in the same period last year. This increase was primarily driven by a $300 million gain from an event cancellation insurance settlement, partially offset by increased operating expenses.
Operating expenses increased year-over-year, with cost of services and product development increasing by 5% and selling, general, and administrative expenses increasing by 8%. This increase in expenses partially offset the revenue growth and the insurance settlement gain.