Gartner (IT) has reported 1.10 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $66.48 million, or $0.79 a share in the quarter, compared with $65.76 million, or $0.78 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $81.22 million, or $0.97 a share compared with $77.58 million or $0.92 a share, a year ago. 

Revenue during the quarter grew 9.23 percent to $703.22 million from $643.77 million in the previous year period. Gross margin for the quarter expanded 27 basis points over the previous year period to 60.32 percent. Total expenses were 84.54 percent of quarterly revenues, up from 84.21 percent for the same period last year. That has resulted in a contraction of 33 basis points in operating margin to 15.46 percent.

Operating income for the quarter was $108.69 million, compared with $101.62 million in the previous year period.

Gene Hall, Gartner's chief executive officer, commented, "Gartner had another great year in 2016. We continued our trend of double digit growth and executed on a number of key strategic initiatives designed to drive long-term growth. In the fourth quarter, Total Contract Value growth accelerated and we saw improvements in our retention and productivity metrics. In early January, we announced our agreement to acquire CEB, which we expect will deliver significant value to our shareholders over both the short and long-term. While our teams are excited about the expanded opportunities the acquisition will create, we are committed to execute on our 2017 outlook."

For financial year 2017, Gartner forecasts revenue to be in the range of $2,680 million to $2,745 million. The company forecasts operating income to be in the range of $360 million to $390 million, the company expects diluted earnings per share to be in the range of $2.80 to $3. The company expects diluted earnings per share to be in the range of $3.15 to $3.35 on adjusted basis.