Gartner IncGartner reported Q1 revenues in line with expectations, beat on EPS, raised full-year guidance for Adjusted EBITDA, EPS, and free cash flow.
Gartner reported first-quarter revenues of $1.51 billion, down 1.5% year on year, in line with analysts' expectations and marking a very strong quarter with a beat on EPS estimates. The company, which provides research, advisory services, and conferences, saw Contract Value accelerate and raised its full-year guidance for Adjusted EBITDA excluding divested operations, Adjusted EPS, and free cash flow. Among the eight IT services and consulting stocks tracked, the group's revenues met consensus estimates but next-quarter revenue guidance came in 2.3% below expectations, and share prices have fallen an average of 22% since reporting. IBM outperformed with revenues of $15.92 billion, up 9.5% year on year and beating estimates by 1.3%, while Everforth posted the weakest results with flat revenues of $968.3 million and a disappointing guidance update that sent its stock down 56.3%. DXC Technology reported revenues of $3.13 billion, down 1.2% year on year, and EPAM Systems reported revenues of $1.4 billion, up 7.6% year on year, both in line with expectations but with mixed guidance.
Gartner IncGartner reported Q1 revenues in line with expectations, beat on EPS, raised full-year guidance for Adjusted EBITDA, EPS, and free cash flow.
Everforth, Inc.Everforth posted flat revenues and disappointing guidance, sending its stock down 56.3%, indicating weak demand.
International Business MachinesIBM outperformed with revenues up 9.5% year on year, beating estimates by 1.3%, indicating strong demand.
DXC Technology CoDXC Technology reported revenues down 1.2% year on year, in line with expectations but with mixed guidance, reflecting weak demand.
EPAM Systems IncEPAM Systems reported revenues up 7.6% year on year, in line with expectations but with mixed guidance, indicating solid demand.