Aug 1 (Reuters) - Gartner (IT.N) raised its annual profit forecast after beating quarterly earnings estimates on Tuesday, on steady demand for research and consulting services in a tough economy.
A dominant player in the data and analytics market, Gartner expects its full-year adjusted earnings per share to be $10, compared with its prior forecast of $9.50.
Gartner's mainstay research business saw a near 6% jump in revenue to $1.21 billion, while the consulting business reported an almost 5% rise to $126 million.
Still, the company lowered its full-year revenue forecast by about $50 million to $5.85 billion, citing weakness in its non-subscription research business.
On an adjusted basis, Gartner earned $2.85 per share in the three months to June 30, compared with analysts' estimate of $2.51 per share profit.
Persons:
Gartner, Zaheer Kachwala, Shilpi Majumdar
Organizations:
Gartner, PayPal, Comcast, Thomson