Demand
CV growth accelerated for second consecutive quarter
Management expressed optimism about future growth, citing accelerating contract value, improving client engagement, and a raised full-year guidance.
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AI
Demand
Capex
IT
FY2026 Q2
IMPROVING
Gartner, Inc. earnings call
Buzzberg read
CV growth accelerated for second consecutive quarter
Gartner's Q2 2026 results beat expectations, leading to raised full-year guidance for EBITDA, EPS, and free cash flow. Contract value growth accelerated for the second consecutive quarter, driven by improvements in the public sector and mid-sized enterprise clients. Management is cautiously optimistic about the selling environment, noting that AI remains the top demand driver while broader macro uncertainty continues. Total company CV growth accelerated to 2% YoY (from ~1.3% in Q1), the second consecutive quarter of acceleration; ex-Fed CV growth was 3.3%.
Buzzberg read CV growth accelerated for second consecutive quarter Gartner's Q2 2026 results beat expectations, leading to raised full-year guidance for EBITDA, EPS, and free cash flow. Contract value growth accelerated for the second consecutive quarter, driven by improvements in the public sector and mid-sized enterprise clients. Management is cautiously optimistic about the selling environment, noting that AI remains the top demand driver while broader macro uncertainty continues. Total company CV growth accelerated to 2% YoY (from ~1.3% in Q1), the second consecutive quarter of acceleration; ex-Fed CV growth was 3.3%. Read full analysisCollapse analysis
Gartner's Q2 2026 results beat expectations, leading to raised full-year guidance for EBITDA, EPS, and free cash flow. Contract value growth accelerated for the second consecutive quarter, driven by improvements in the public sector and mid-sized enterprise clients. Management is cautiously optimistic about the selling environment, noting that AI remains the top demand driver while broader macro uncertainty continues. Total company CV growth accelerated to 2% YoY (from ~1.3% in Q1), the second consecutive quarter of acceleration; ex-Fed CV growth was 3.3%.
- Full-year guidance raised: EBITDA now at or above $1.57bn, Adjusted EPS at or above $14.00, and FCF at or above $1.185bn.
- Management noted a 'mixed' ex-Fed selling environment but expects CV growth to 'continue to reaccelerate' through execution improvements rather than a macro recovery.
- U.S. Federal government CV returned to positive net contract value in Q2, a key contributor to the acceleration.
Revenue
$1.6759B
+11% QoQ
EPS
$4.37
+32% QoQ
Gross margin
70.95%
reported
Op margin
22.63%
reported
What changed this quarter
Demand
Government CV returned to positive growth, leading indicator
CV growth accelerated for second consecutive quarter. Management expressed optimism about future growth, citing accelerating contract value, improving client engagement, and a raised full-year guidance.
Demand
Wallet retention improves as downsell stabilizes
CV growth accelerated for second consecutive quarter. Management expressed optimism about future growth, citing accelerating contract value, improving client engagement, and a raised full-year guidance.
Product
Insights transformation driving volume and impact gains
Management noted a 'mixed' ex-Fed selling environment but expects CV growth to 'continue to reaccelerate' through execution improvements rather than a macro recovery.
AI, capex & demand read
Platform & monetization
Management emphasized AI as the single most requested topic across client types, driving strong demand for Gartner's insights. They highlighted their unique position serving 80,000 business leaders, 10,000 CIOs, and 5,000 tech providers, and their comprehensive AI coverage. AI demand is a key driver, though it also contributes to client uncertainty and budget scrutiny.
Bookings & conversion
CV growth accelerated for second consecutive quarter. Management expressed optimism about future growth, citing accelerating contract value, improving client engagement, and a raised full-year guidance.
Investment and capacity
Capex is not discussed in the transcript.
Tone · Confident
Management expressed optimism about future growth, citing accelerating contract value, improving client engagement, and a raised full-year guidance.
Forward guidance
ImprovingGuidance · revenue to $6.375B · was IN LINE last Q
| Metric | Period | Range | Midpoint | Status |
|---|---|---|---|---|
| EPS | FY2026 | $14.00 | $14.00 | RAISED |
| Revenue | FY2026 | $6.375B | $6.375B | MAINTAINED |