Information sales company Gartner had a terrible fourth quarter of 2017, says pretty much everybody who writes about these kinds of things. But many analysts feel the company redeemed itself in the first quarter of 2018 by … losing $20 million?
Apparently stock experts aren’t too worried since Gartner (NYSE: IT) reportedly has over $400 million in cash on hand. Gartner’s Chief Financial Officer Craig Safian isn’t worried either, telling the financial press that the first quarter of the year is always Gartner’s worst.
Gartner slashed their over-all outlook in 2018, but the company says they still expect to turn a profit of between $98 million and $134 million for the entire year.
Here’s what really caught our attention: Gartner’s 2018Q1 revenues were $964 million, compared to $625 million in revenue for the same quarter one year ago. A 54% increase, and also a lot of money.
Gartner’s performance handily beat analysts’ expected revenues of $929 million for Q1.
We could go over a whole bunch more available financial data with you, but the bottom line is that Gartner is still printing money and growing rapidly. They may have hit a bump in the road late last year, but most experts agree that Gartner is back on track.
According to a recent article in the News-Press the company currently employs 1,600 people at their various facilities in Gateway. That number will obviously surge once the company opens its newest building on the RSW property later this year.
Gartner stock closed at $130.53 per share yesterday, giving the company a value of $11.81 billion.