Why Research & Consulting Firm Gartner's Stock Is Jumping Today
Portfolio Pulse from Nabaparna Bhattacharya
Gartner, Inc. (NYSE:IT) reported Q3 FY23 revenue growth of 5.8% YoY to $1.409 billion, beating the consensus of $1.390 billion. Revenues from Research rose 6.2% YoY to $1.22 billion, while Consulting revenue grew 24.1% YoY to $133 million. The company raised its FY23 revenue guidance to at least $5.89 billion, up from the previous estimate of $5.85 billion. Gartner's shares traded higher by 15.22% at $388.98 on the last check Friday.
November 03, 2023 | 3:24 pm
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Gartner's Q3 FY23 revenue beat expectations, leading to a rise in its stock price. The company also raised its FY23 revenue guidance, indicating positive future performance.
Gartner's better-than-expected Q3 FY23 revenue and raised FY23 revenue guidance indicate strong performance and positive future outlook, which are likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100