IT Stock: From $197.41 To $218 (10.43% Increase) Pre-Market Explanation

By Amit Chowdhry ● May 4, 2021
  • The stock price of Gartner Inc (NYSE: IT) increased from $197.41 to $218 (up 10.43%) pre-market. This is why it happened.

The stock price of Gartner Inc (NYSE: IT) increased from $197.41 to $218 (up 10.43%) pre-market. Investors are responding positively to the company reporting its first quarter 2021 financial results.

These are the highlights from the quarter:

— Revenues: $1.1 billion, +8.4% as reported; +5.7% FX neutral.

— Net income: $164 million; adjusted EBITDA: $320 million, +50.0% as reported, +44.2% FX neutral.

— Diluted EPS: $1.84, +121.7%; adjusted EPS: $2.00, +66.7%.

— Operating cash flow: $157 million; free cash flow: $145 million, +363.8%.

— Repurchased 2.3 million common shares for $398 million.

— Board of Directors increased the share repurchase authorization by $500 million in April 2021.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.