Gartner Tops Q4 Consensus; Boosts Share Buyback by $500 Million

By Benzinga
Benzinga
Benzinga
February 9, 2022 Updated: February 9, 2022

Gartner Inc. reported fourth-quarter FY21 revenue growth of 18 percent 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 percent Y/Y to $1.1 billion, and Conferences was $107 million, up 14.8 percent Y/Y. Consulting revenue grew 25.5 percent Y/Y to $118 million.

Global Technology Sales Contract Value rose 14 percent Y/Y FX neutral to $3.4 billion. Global Business Sales Contract Value increased 24 percent 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.

By Anusuya Lahiri

© 2021 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.

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