By Sabela Ojea
Gartner cut its revenue guidance for the year amid views for a weaker research business unit due to current tech vendor market dynamics.
The Stamford, Conn.-based research and advisory company said Tuesday that it now expects full-year revenue of $5.85 billion, down from $5.90 billion three months ago.
Analysts polled by FactSet forecast revenue of $5.81 billion for 2023.
The company expects research revenue of $4.86 billion, down from $4.93 billion previously, and higher conference revenue of $490 million amid strong demand levels, ahead a prior guidance of $470 million.
Additionally, Gartner raised its adjusted earnings per share to $10 a share from $9.50, as well as its adjusted earnings before interest, taxes, depreciation and amortizaton to $1.36 billion, from $1.33 billion previously.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
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