Gartner, Inc. (NYSE: IT) reported Q1 EPS of $1.20, $0.88 better than the analyst estimate of $0.32. Revenue for the quarter came in at $1 billion versus the consensus estimate of $1.01 billion.

Link to 1Q Report

FIRST QUARTER 2020 HIGHLIGHTS

• Revenues: $1.0 billion, +5.0%; +6.1% FX neutral.
• Net income: $75 million; adjusted EBITDA: $214 million, +50.8%, +52.8% FX neutral.
• Diluted EPS: $0.83, +260.9%; adjusted EPS: $1.20, +106.9%.
• Operating cash flow: $56 million; free cash flow: $31 million, +100.9%.
• Cash position at March 31, 2020: $228 million

Gene Hall, Gartner’s Chief Executive Officer, commented, “During these uncertain times, keeping our associates, clients and suppliers safe remains a top priority. We are well-positioned to help our clients address the pandemic and the economic downturn. We’re managing costs and cash flow, and we will come out of the recession well-positioned to resume driving long term, sustained, double-digit growth.”

GUIDANCE:

Gartner, Inc. sees FY2020 EPS of $3.00, versus the consensus of $2.99. Gartner, Inc. sees FY2020 revenue of $3.81 billion, versus the consensus of $4.28 billion.

For earnings history and earnings-related data on Gartner, Inc. (IT) click here.