Gartner Q2 EPS Jumps 33% to $4.14, Buyback Boosted by $500M
IT sits 33% above its 52-week low of $124.25.
Summary
Gartner delivered a strong Q2 with EPS of $4.14, up 33% year-over-year, beating expectations. Revenue dipped slightly to $1.676B, but margin expansion and aggressive share buybacks drove the bottom-line beat. The board authorized an additional $500M for repurchases, adding to the existing program. This follows the 8-K and 10-Q filed earlier today, confirming the numbers. The buyback acceleration signals confidence in the stock at current levels. Watch for further capital allocation updates in the next earnings call.
At the time of this announcement, IT was trading at $165.01 on NYSE in the Trade & Services sector, with a market capitalization of approximately $10.1B. The 52-week trading range was $124.25 to $337.29. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: dpa-AFX.