Gartner's stock tumbles toward biggest drop in 2 years after earnings miss, downbeat outlook
Shares of Gartner Inc. tumbled 7% in morning trade, after the research and advisory company reported fourth-quarter earnings and revenue that missed expectations. The selloff put the stock on track for the biggest one-day drop in two years. BMO Capital analyst Jeffrey Silber said the earnings miss was mostly margin driven, resulting from higher selling, general and administrative expenses. Gartner had also provided 2019 adjusted EPS guidance of $3.82 to $4.19, below the FactSet consensus of $4.22, and revenue guidance of $4.22 billion to $4.32 billion, below expectations of $4.34 billion. The stock has lost 5.3% over the past three months, while the S&P 500 has eased 0.2%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.