Gartner Inc. (IT), a provider of research and analysis on the global information technology industry, Thursday reported a increase in net income for the first quarter, driven by higher research and event revenues. The firm also reiterated its full year guidance.
For the three-month period, the firm reported net income of $36.6 million or $0.38 per share, compared with $34.2 million or $0.36 per share during the same period previous year. The first-quarter results included acquisition charges, net of tax, of $0.01 per share.
On average, eight analysts polled by Thomson Reuters expected earnings per share of $0.40 for the quarter. Analysts' estimates typically exclude one-time items.
The company generated revenues of $406.8 million in the quarter, a 10 percent increase from $369.1 million during the same quarter prior year. Analysts estimated the company to report revenues of $408.16 million.
The company reiterated its earnings guidance for the year, still expecting earnings per share in the range of $1.96 - $2.10, on revenues of $1.77 billion -$1.82 billion. The Street expects the company to report earnings of $2.06 per share, on revenues of $1.80 billion, for the year.
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