By Christiana Sciaudone
Investing.com -- Gartner (NYSE:IT) bucked the downward market trend to rise 12% after reporting nearly double the profit sought by analysts and boosting guidance.
Shares are trading at a record, after rising over 90% over the past 12 months.
First quarter earnings per share of $2 beat the expected $1.05 on sales of $1.06 billion, versus the estimated $1.05 billion, according to data compiled by Investing.com. Profit rose 67% from a year earlier for the research firm.
Full year guidance was boosted with adjusted EPS of at least $6.25 estimated and revenue of at least $4.5 billion. That compares to previous estimates of $4.10 and $4.365 billion, respectively.
Gartner has beat analyst estimates for profit by generally strong margins for nine straight quarters.