WASHINGTON (dpa-AFX) - Information Technology services provider Gartner, Inc. (IT), while reporting higher first-quarter results, on Tuesday raised its outlook for fiscal 2025 earnings, but below market estimates. Further, the firm trimmed revenue view.
In the pre-market hours on the New York Stock Exchange, Gartner's stock is losing around 1.9 percent to trade at $419.00.
For fiscal 2025, the company now expects adjusted earnings of at least $11.70 per share, higher than previous estimate of at least $11.45 per share.
The Wall Street analysts on average expect the company to report earnings of $12.16 per share. Analysts' estimates typically exclude special items.
Adjusted EBITDA is now estimated to be at least $1.535 billion, compared to at least $1.510 billion expected earlier.
Total revenues are now expected to be at least $6.535 billion, lower than previous estimate of at least $6.555 billion. Analysts expect the company to report revenues of $6.56 billion.
In its first quarter, earnings increased from the same period last year and beat the Street estimates.
The company's earnings totaled $210.9 million or $2.71 per share, compared with $210.5 million or $2.67 per share last year.
Adjusted earnings were $232 million or $2.98 per share for the period, compared to $2.93 per share a year ago. Analysts had expected the company to earn $2.72 per share.
The company's revenue for the period rose 4.2 percent to $1.534 billion from $1.472 billion last year. The Street was looking for revenues of $1.53 billion for the quarter.
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