Gartner, Inc. (IT) has reported 19.01 percent fall in profit for the quarter ended Mar. 31, 2017. The company has earned $36.43 million, or $0.43 a share in the quarter, compared with $44.99 million, or $0.54 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $50.64 million, or $0.60 a share compared with $55.73 million or $0.67 a share, a year ago.

Revenue during the quarter grew 12.19 percent to $625.17 million from $557.27 million in the previous year period. Gross margin for the quarter expanded 4 basis points over the previous year period to 61.99 percent. Total expenses were 91.44 percent of quarterly revenues, up from 88.44 percent for the same period last year. That has resulted in a contraction of 300 basis points in operating margin to 8.56 percent.

Operating income for the quarter was $53.51 million, compared with $64.43 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $106.06 million compared with $103.33 million in the prior year period. At the same time, adjusted EBITDA margin contracted 158 basis points in the quarter to 16.96 percent from 18.54 percent in the last year period.

Gene Hall, Gartner's chief executive officer, commented, "We delivered another strong quarter of double-digit growth in revenue and contract value for the first quarter of 2017. We closed the acquisition of CEB and remain extremely excited about our prospects for long term growth in both the Gartner and CEB businesses".

For fiscal year 2017, Gartner forecasts revenue to be in the range of $2,700 million to $2,765 million. Gartner forecasts adjusted revenue to be in the range of $2,700 million to $2,765 million.