Stamford-based research and advisory company Gartner Inc. reported second-quarter revenue of $843.7 million, a 38 percent increase from the previous second quarter’s $610 million. For the six months ended June 30, total revenue was approximately $1.5 billion, an increase of $301.6 million or 26 percent from the first half of 2016.
The results were due in part to the April 5 completion of Gartner’s acquisition of technology and insights firm CEB, which resulted in a net loss of $92.3 million in the second quarter.
With the CEB acquisition, Gartner now is reporting four business segments. In addition to research, which was responsible for $613.7 million in the second quarter, up 34 percent; consulting, which rose 6 percent to $91.7 million; and events, up 37 percent to $91.2 million, the new segment, Talent Assessment & Other, posted second-quarter revenue of $47.1 million, with a gross contribution margin of 37 percent.
“The integration of Gartner and CEB is going extraordinarily well and gives us a quantum leap in capability,” said Gartner CEO Gene Hall. “In our first 120 days, we’ve integrated our organizations, launched new products, introduced new commercial terms, and accelerated sales force hiring.”
Gartner now has more than 13,000 associates serving clients in more than 11,000 enterprises in approximately 100 countries.
The Stamford company said at the time of the CEB announcement that it expects to achieve annual savings of about $25 million to $50 million beginning in 2018.