Gartner beats quarterly estimates on strong conference demand

Aug. 4 (Reuters) - Research and advisory firm Gartner beat Wall Street estimates for second-quarter profit on Tuesday, helped by strong growth in its conferences business, sending its shares up more than 16%.

Gartner provides technology and business research, advisory and consulting services to enterprises, with its subscription-based Insights segment serving as its largest business.

• Gartner reported second-quarter revenue of $1.68 billion; analysts on average estimated $1.65 billion, according to data compiled by LSEG.
• Adjusted profit per share came in at $4.37, beating expectations of $3.75.
• The company forecast full-year adjusted earnings of at least $14 per share, compared with estimates of $13.64, up from its prior forecast of at least $13.25.
• Gartner's conferences business grew as customers spent more on its in-person events, lifting revenue and profitability despite slightly lower attendance.
• Gartner, however, cut its full-year revenue forecast to at least $6.394 billion from $6.424 billion.
• Revenue at Insights, Gartner's largest unit, rose 2.1% from a year earlier to $1.29 billion in the quarter, while Conferences revenue jumped to and Consulting revenue fell to .