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Gartner Inc. (IT-2.58%) has filed its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports total revenues of $6.3 billion for 2024, an increase of 6% from the previous year. The increase was driven by growth in all three segments: Research, Conferences, and Consulting.
Research revenues increased by 5% to $5.1 billion, with a contract value of $5.3 billion at year-end, reflecting an 8% growth. The segment's gross contribution margin remained steady at 74%.
Conferences revenues rose by 15% to $583.2 million, with 51 in-person conferences held during the year, compared to 47 in the prior year. The gross contribution margin for the segment was 48%, down from 50% in 2023.
Consulting revenues grew by 9% to $558.5 million, with a gross contribution margin of 36%, up from 35% in 2023. The backlog for Consulting was $191.5 million at year-end, a 17% increase.
The company reported a net income of $1.3 billion, up from $882.5 million in 2023. This increase was partly due to a $300 million gain from a settlement related to event cancellation insurance claims.
Operating income for the year was $1.16 billion, a decrease of 7% from 2023, primarily due to the prior year's gain from the sale of a divested operation.
Interest expense, net decreased by 26% to $69.5 million, due to increased interest income from higher cash balances.
The effective income tax rate for 2024 was 9.6%, down from 23.1% in 2023, primarily due to tax benefits from an intercompany transfer of intellectual property.
Gartner ended the year with $1.9 billion in cash and cash equivalents and $0.7 billion of available borrowing capacity on its revolving credit facility.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Gartner Inc. annual 10-K report dated February 13, 2025. To report an error, please email earnings@qz.com.