Gartner Cancels, Postpones Conferences - Quick Facts

(RTTNews) - Gartner, Inc. (IT) said, due to COVID-19, the company has cancelled or postponed all conferences scheduled for April through August 2020. The company estimates the financial impact from not operating these conferences would be approximately $158 million of revenue and $97 million of adjusted EBITDA in second quarter 2020 and $22 million of revenue and $12 million of adjusted EBITDA in third quarter 2020.

Gartner said it is implementing several cost-reduction programs which, if kept in place through the end of 2020, are expected to yield expense savings versus the original 2020 operating plan of at least $200 million. The programs include reductions to travel, new hiring, and capital expenditures. The company is continuing to evaluate other potential cost saving measures.