Overview

* Gartner ( IT ) Q2 revenue rises 5.7% to $1.7 bln, beating analysts' expectations

* Adjusted EPS up 9.6% to $3.53, surpassing estimates, per LSEG data

* Co repurchased 0.7 mln shares for $274 mln, boosts buyback authorization by $700 mln

Outlook

* Gartner ( IT ) continues rollout of AI tool AskGartner to enhance client value

* Company focuses on increasing shareholder value through accelerated stock buybacks

Result Drivers

* AI TOOL LAUNCH - Rollout of AskGartner, AI-powered tool, enhances client access to insights, per CEO Gene Hall

* CONTRACT VALUE GROWTH - Contract value grew 5% YoY, contributing to revenue increase

* SEGMENT PERFORMANCE - Conferences and consulting segments showed strong revenue growth, aiding overall results

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $1.70 $1.67

Revenue bln bln (8

Analysts

)

Q2 Beat $3.53 $3.3 (10

Adjusted Analysts

EPS )

Q2 EPS $3.11

Q2 Net $241 mln

Income

Q2 Beat $443 mln $422.40

Adjusted mln (7

EBITDA Analysts

)

Q2 Free $347 mln

Cash

Flow

Q2 $384 mln

Operatin

g Cash

Flow

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the it services & consulting peer group is "buy"

* Wall Street's median 12-month price target for Gartner Inc ( IT ) is $470.00, about 28.4% above its August 4 closing price of $336.71

* The stock recently traded at 26 times the next 12-month earnings vs. a P/E of 33 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)