<PAGE>

                  UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, D.C.  20549

                                     FORM 10-Q

(Mark One)

/X/ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange
    Act of 1934

                     For the quarter ended:  March 31, 1998 

                                       or

/ / Transition report pursuant to Section 13 or 15(d) of the Securities Exchange
    Act of 1934
                    For the transition period from _____ to _____.

                          Commission file number: 0-27680

                        INTELLIQUEST INFORMATION GROUP, INC.
               (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

                  Delaware                                    74-2775377
      (STATE OR OTHER JURISDICTION OF                      (I.R.S. EMPLOYER
       INCORPORATION OR ORGANIZATION)                    IDENTIFICATION NUMBER)

                           1250 Capital of Texas Highway
                                Austin, Texas 78746
                                   (512) 329-0808
           (ADDRESS  AND TELEPHONE NUMBER OF PRINCIPAL EXECUTIVE OFFICES)

                             -------------------------

Indicate by check mark whether the registrant (1) has filed all reports 
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 
1934 during the preceding 12 months (or for such shorter period that the 
registrant was required to file such reports), and (2) has been subject to 
such filing requirements for the past 90 days.  Yes /X/   No / /

Indicate the number of shares outstanding of each of the issuer's classes of 
common stock, as of the latest practicable date.

           CLASS                                OUTSTANDING AT APRIL 30, 1998
Common Stock, $.0001 par value                            8,454,055

                                       1

<PAGE>

                        INTELLIQUEST INFORMATION GROUP, INC.
                                       INDEX
<TABLE>
                                                                          PAGE NO.
<S>                                                                       <C>
PART I.  FINANCIAL INFORMATION

   Item 1.  Financial Statements:
               Condensed Consolidated Balance Sheet
               March 31, 1998 (unaudited) and December 31, 1997               3

               Condensed Consolidated Statement of Operations (unaudited)
               Three months ended March 31, 1998 and 1997                     4

               Consolidated Statement of Comprehensive Income (unaudited)
               Three months ended March 31, 1998 and 1997                     5

               Condensed Consolidated Statement of Cash Flows (unaudited)      
               Three months ended March 31, 1998 and 1997                     6

               Notes to Consolidated Financial Statements                     8

   Item 2.  Management's Discussion and Analysis of Financial Condition
            and Results of Operations                                        10

PART II.   OTHER INFORMATION

   Item 1.  Legal Proceedings                                                19

   Item 2.  Changes in Securities                                            19

   Item 3.  Defaults Upon Senior Securities                                  19

   Item 4.  Submission of Matters to a Vote of Security Holders              19

   Item 5.  Other Information                                                19

   Item 6.  Exhibits and Reports on Form 8-K                                 19

   Signatures                                                                20
</TABLE>
                                       2

<PAGE>

Part I.   Financial Information
-------------------------------
Item 1.  Condensed Consolidated Financial Statements

                     INTELLIQUEST INFORMATION GROUP, INC. 
                     CONDENSED CONSOLIDATED BALANCE SHEET 
                                (in thousands)            
<TABLE>
                                                    MARCH 31,        DECEMBER 31,
                                                      1998               1997    
                                                      ----               ----    
                                                   (UNAUDITED)                   
<S>                                                <C>               <C>         
                      ASSETS                                                     
Current assets:                                                                  
   Cash and equivalents............................. $   366            $ 1,785  
   Short-term investments...........................  38,698             40,752  
   Accounts receivable, net.........................   7,054              7,904  
   Unbilled revenues................................   4,740              2,840  
   Projects in process..............................   1,299                127  
   Prepaid expenses and other assets................   2,164                593  
                                                     -------            -------
      Total current assets..........................  54,321             54,001  
   Furniture and equipment, net.....................   2,781              4,436  
   License agreements, net..........................   7,482              7,500  
   Other assets.....................................   1,952              1,470  
                                                     -------            -------
        Total assets................................ $66,536            $67,407  
                                                     -------            -------
                                                     -------            -------
    LIABILITIES AND STOCKHOLDERS' EQUITY 

Current Liabilities:
   Accounts payable................................. $ 2,557            $ 2,474
   Accrued liabilities..............................   2,835              1,918
   Deferred revenues................................   2,181              2,420
   Other current liabilities........................     556                553
                                                     -------            -------
      Total current liabilities.....................   8,129              7,365
Obligations under capital leases and deferred rent..     180                172
                                                     -------            -------
      Total liabilities.............................   8,309              7,537
                                                     -------            -------
Common Stockholders' Equity:
   Common stock, $.0001 par value, 30,000,000 shares 
    authorized, 8,484,000 and 8,411,000 shares  
    issued and outstanding, respectively............       1                  1
   Capital in excess of par value...................  59,570             58,834
   Deferred compensation............................     (30)               (33)
   Other............................................      33                 46
   Accumulated earnings (deficit)...................  (1,382)             1,039
   Accumulated other comprehensive income (deficit).      35                (17)
                                                     -------            -------
      Total common stockholders' equity.............  58,227             59,870
                                                     -------            -------
       Total liabilities and stockholders' equity... $66,536            $67,407
                                                     -------            -------
                                                     -------            -------
</TABLE>

THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE CONDENSED CONSOLIDATED 
FINANCIAL STATEMENTS.

<PAGE>
                     INTELLIQUEST INFORMATION GROUP, INC.      
                CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS 
                     (IN THOUSANDS, EXCEPT PER SHARE DATA)     
                                 (UNAUDITED)                   
<TABLE>

                                              THREE MONTHS      THREE MONTHS 
                                                 ENDED             ENDED     
                                             MARCH 31, 1998    MARCH 31, 1997
                                             --------------    --------------
<S>                                          <C>               <C>
Revenues:
   Continuous services........................     $ 8,219             $6,529
   Other services.............................       1,740                955
                                                   -------             ------
   Total revenues.............................       9,959              7,484

Operating expenses:
   Costs of revenues..........................       5,798              3,957
   Sales, general and administrative..........       6,121              2,717
   Product development........................       2,382                409
   Depreciation and amortization..............         329                213
                                                   -------             ------
   Total operating expenses...................      14,630              7,296
                                                   -------             ------
Operating income (loss).......................      (4,671)               188

Interest income, net..........................         408                463
                                                   -------             ------
Income (loss)before income taxes..............      (4,263)               651
Provision (benefit) for income taxes..........      (1,894)                68
                                                   -------             ------
Net income (loss).............................     $(2,369)            $  583
                                                   -------             ------
                                                   -------             ------
Basic earnings (loss) per share...............     $  (.28)            $  .07

Diluted earnings (loss) per share.............     $  (.28)            $  .07

Basic weighted average shares outstanding.....       8,484              8,338

Diluted weighted average shares outstanding...       8,484              8,475
</TABLE>
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE CONDENSED CONSOLIDATED 
FINANCIAL STATEMENTS.

                                       4

<PAGE>
                     INTELLIQUEST INFORMATION GROUP, INC.     
                CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
                               (IN THOUSANDS)                 
                                (UNAUDITED)                   
<TABLE>
                                              THREE MONTHS      THREE MONTHS 
                                                 ENDED             ENDED     
                                             MARCH 31, 1998    MARCH 31, 1997
                                             --------------    --------------
<S>                                          <C>               <C>
Net income (loss)............................   $(2,369)           $   583

Other comprehensive income (loss), net of tax:
   Foreign currency translation adjustments..         4                 (4)
   Unrealized loss on securities.............       (13)               (23)
                                                -------            -------
Other comprehensive loss.....................        (9)               (27)
                                                -------            -------
Comprehensive  income (loss).................   $(2,378)           $   556
                                                -------            -------
                                                -------            -------
</TABLE>
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE CONDENSED CONSOLIDATED 
FINANCIAL STATEMENTS.

                                       5
<PAGE>
                     INTELLIQUEST INFORMATION GROUP, INC.     
                CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
                               (IN THOUSANDS)                 
                                 (UNAUDITED)                  
<TABLE>
                                                    THREE MONTHS      THREE MONTHS 
                                                       ENDED             ENDED     
                                                   MARCH 31, 1998    MARCH 31, 1997
                                                   --------------    --------------
<S>                                                 <C>               <C>
Cash flows used in operating activities:
   Net income (loss)............................... $  (2,369)          $    583
   Adjustments to reconcile net income to net
    cash used in operating activities:
      Depreciation and amortization................       436                213
      Bad debt expense.............................        58                 25
      Asset impairment and loss on disposal of 
       assets......................................     2,872                 30
      Deferred compensation........................         3                  2
Net changes in assets and liabilities:
   Accounts receivable and unbilled revenues.......    (1,416)              (710)
   Prepaid expenses and other assets...............    (1,926)              (207)
   Projects in process.............................    (1,172)              (912)
   Accounts payable and accrued expenses...........       910                (98)
   Deferred revenues...............................      (239)               (66)
   Other...........................................       (20)               160
                                                    ---------           --------
Net cash used in operating activities..............    (2,863)              (980)
                                                    ---------           --------
Cash flows from investing activities:
   Purchases of short-term investments.............  (106,916)           (76,108)
   Sales and maturities of short-term 
    investments....................................   108,903             79,164
   Purchases of equipment and leasehold 
    improvements...................................      (425)              (700)
   Purchase of Information Technology Forum 
    Assets, Net of Cash Acquired ..................      (138)                 - 
   Other...........................................        32                (42)
                                                    ---------           --------
         Net cash provided by investing activities.     1,456              2,314
                                                    ---------           --------
Cash flows used in financing activities:
   Proceeds from issuance of stock, net............         3                 53
   Offering costs..................................         -               (124)
   Borrowings under line of credit.................         -              2,029
   Repayments under line of credit.................         -             (2,216)
   Other...........................................       (15)              (266)
                                                    ---------           --------
         Net cash used in financing activities.....       (12)              (524)
                                                    ---------           --------
   Net increase (decrease) in cash and equivalents.    (1,419)               810
   Cash and equivalents at the beginning of the 
    period.........................................     1,785                734
                                                    ---------           --------
   Cash and equivalents at the end of the period... $     366           $  1,544
                                                    ---------           --------
                                                    ---------           --------
Supplemental cash flow disclosures:
   Interest paid...................................         1                 13
   Taxes paid......................................         4                435
</TABLE>
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE CONDENSED CONSOLIDATED 
FINANCIAL STATEMENTS.

                                       6

<PAGE>
                     INTELLIQUEST INFORMATION GROUP, INC.     
                CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
                                 (CONTINUED)
                               (IN THOUSANDS)                 
                                 (UNAUDITED)                  
<TABLE>
                                                          THREE MONTHS      THREE MONTHS 
                                                             ENDED             ENDED     
                                                         MARCH 31, 1998    MARCH 31, 1997
                                                         --------------    --------------
<S>                                                      <C>               <C>
Schedule of noncash investing activities:
  Purchase of Information Technology Forum assets
     Working capital other than cash.......................     43                  -
     Equipment and leasehold improvements..................     17                  -
     Intangibles...........................................    821                  -
     Capital lease assumed.................................    (10)                 -
     Issuance of unregistered common stock.................   (733)                 -
                                                            ------              -----
     Cash paid for Information Technology Forum 
      assets, net of cash acquired.........................    138                  -
                                                            ------              -----
                                                            ------              -----
</TABLE>
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE CONDENSED CONSOLIDATED 
FINANCIAL STATEMENTS.

                                       7

<PAGE>
                     INTELLIQUEST INFORMATION GROUP, INC.         
             NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 

1.   GENERAL AND BASIS OF FINANCIAL STATEMENTS

     The accompanying unaudited financial statements include the accounts of
     IntelliQuest Information Group, Inc., a Delaware corporation, and its
     consolidated subsidiaries (collectively, the "Company" or "IntelliQuest").
     The Company provides international quantitative marketing information to
     technology companies.

     The accompanying unaudited interim consolidated financial statements have
     been prepared in accordance with the rules and regulations of the
     Securities and Exchange Commission and, accordingly, do not include all
     information and notes required under generally accepted accounting
     principles for complete financial statements.  In the opinion of
     management, the accompanying unaudited interim consolidated financial
     statements contain all adjustments consisting of a normal recurring nature
     considered necessary for a fair presentation of the financial position of
     the Company as of March 31, 1998 and the results of the Company's
     operations and its cash flows for the three-month periods ended March 31,
     1998 and 1997.  This report on Form 10-Q should be read in conjunction with
     the Company's audited consolidated financial statements and related notes
     included in the Company's Annual Report on Form 10-K for the year ended 
     December 31, 1997.  

2.   LICENSE AGREEMENT
     
     On December 22,1997, the Company paid $7.5 million for an exclusive
     licensing agreement to market and sell database products to the 
     high-tech, telecommunications, cable and utility industries.  In 
     conjunction with the agreement, the Company will pay the licensor 
     royalties and fees on revenue from the sale of data and services.

     The contract provides for annual target minimum payments. 
     Royalties and service fees for the database marketing products were 
     less than that required to satisfy the prorated annual target minimum 
     payments under this agreement; therefore, the Company recognized a 
     liability at March 31, 1998 for the difference.
     
3.   ACQUISITION OF ASSETS/RELATED PARTY TRANSACTION
 
     Effective January 1, 1998, the Company purchased certain assets of
     Information Technology Forum, Inc. ("ITF") a company wholly owned by
     Charles W. Stryker, who was a Director of the Company at the time of the
     acquisition.  The assets were purchased with cash and stock and the
     transaction was accounted for under the purchase method.  The assets
     purchased were recorded at fair value at the time of purchase.  The excess 
     of the purchase price over the fair value of amounts assigned to the net
     tangible assets purchased has been assigned to goodwill in the amount of
     approximately $821,000 versus $721,000 as reported in the Company's Annual 
     Report on Form 10-K, due to post-closing accounting adjustments. As the 
     operations of ITF are immaterial to the Company as a whole, pro forma 
     financial statements are not disclosed.

                                       8

<PAGE>

4.   STOCK REPURCHASE PROGRAM

     In January 1998, the Board of Directors approved the repurchase of up to
     850,000 shares of the Company's common stock.  There were no
     repurchases as of the date of this filing.

5.   NEW ACCOUNTING PRONOUNCEMENT
     
     In 1997, Statements of Financial Accounting Standard No. 131, "Disclosures
     about Segments of an Enterprise and Related Information" was issued.   SFAS
     No. 131 establishes standards for the way that public business enterprises
     report information about operating segments in interim financial reports
     issued to shareholders, which is currently not required. It also
     establishes standards for related disclosures about products and services,
     geographic areas and major customers.  The Company is required to adopt
     this standard for annual reporting in 1998 and quarterly reporting the
     first quarter of 1999.

                                       9

<PAGE>

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND 
         RESULTS OF OPERATIONS.

     THE FOLLOWING MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL 
CONDITION AND RESULTS OF OPERATIONS CONTAINS TREND ANALYSIS AND OTHER FORWARD-
LOOKING STATEMENTS THAT INVOLVE RISKS AND UNCERTAINTIES. SUCH FORWARD-LOOKING 
STATEMENTS INCLUDE, BUT ARE NOT LIMITED TO, THE COMPANY'S EXPECTATIONS 
REGARDING ITS FUTURE FINANCIAL CONDITION AND OPERATING RESULTS, PRODUCT 
DEVELOPMENT, BUSINESS AND GROWTH STRATEGY, MARKET CONDITIONS AND COMPETITIVE 
ENVIRONMENT. THE COMPANY'S ACTUAL RESULTS COULD DIFFER MATERIALLY FROM THOSE 
ANTICIPATED IN THE FORWARD-LOOKING STATEMENTS AS A RESULT OF CERTAIN FACTORS, 
INCLUDING, BUT NOT LIMITED TO RISKS ASSOCIATED WITH DATABASE MARKETING 
INFORMATION SERVICES, RELIANCE ON KEY CUSTOMERS/TECHNOLOGY INDUSTRY 
CONSOLIDATION; DEPENDENCE ON SUBSCRIPTION AND CONTRACT RENEWALS; FLUCTUATIONS 
IN OPERATING RESULTS/SEASONALITY;  MANAGEMENT OF GROWTH/POSSIBLE 
ACQUISITIONS; COMPETITION; DEPENDENCE ON KEY PERSONNEL; DEVELOPMENT OF DIRECT 
SALES FORCE; RAPID TECHNOLOGICAL CHANGE AND NEW PRODUCT INTRODUCTION; DATA 
COLLECTION RISKS; RISKS RELATED TO CIMS; HISTORY OF NET LOSSES/UNCERTAIN 
PROFITABILITY; LIMITED PROTECTION OF PROPRIETARY SYSTEMS, SOFTWARE AND 
PROCEDURES; AND RISKS ASSOCIATED WITH INTERNATIONAL OPERATIONS, AS FURTHER 
DISCUSSED UNDER "RISK FACTORS".

OVERVIEW

     IntelliQuest is a leading provider of information, technologies, and 
analysis services that are designed to improve the marketing performance of 
technology companies. IntelliQuest supplies customers with timely, objective, 
accurate and cost-effective information about technology markets, customers 
and products on both a subscription basis and a proprietary project basis.  
The Company uses its proprietary databases, software and subscription-based 
strategic consulting services to help technology companies track product 
performance and customer satisfaction, measure advertising effectiveness, 
assess brand strength and competitive position, determine price sensitivity, 
and evaluate new products, markets or other business opportunities.  The 
Company licenses custom proprietary software applications and associated 
services to technology manufacturers for customer registration.  In December 
1997, the Company entered into an exclusive licensing agreement to market and 
sell database products to the high-tech, telecommunications, cable and 
utility industries.  

     The Company's continuous services are composed of renewable 
subscription-based products, renewable proprietary products, customer 
information products sold under contract, and recurring conferences.  
The Company's renewable subscription based product revenues are derived 
substantially from four product families: IntelliTrack IQ, World Wide 
Internet Tracking Study ("WWITS"), the Computer Industry Media Study 
(CIMS), and Zona Advisory Services. The Company's renewable 
proprietary product revenues typically consist of revenues from 
proprietary recurring tracking studies, panel projects, "value-add" 
proprietary services, and customer information products. Revenues from 
the customer information products are derived from a variety of 
sources, including proprietary customer registration products, 
proprietary customer satisfaction products and database marketing 
services. Renewable customer information revenues include data medium 
sales, processing fees and reporting fees. The Company's other services 
are composed of non-recurring proprietary research, non-recurring 
conferences and database marketing services sold to clients where an 
ongoing contractual agreement does not exist.

     Renewable subscription products, except for CIMS, are furnished pursuant 
to contracts that are generally renewable annually, and revenue is amortized 
prorata over contract terms.  Substantially all CIMS revenues and related 
costs are deferred and recognized upon delivery of the final study, which 
typically 

                                       10

<PAGE>

occurs in the third quarter. Renewable proprietary and panel products 
are furnished pursuant to contracts that are generally renewable 
annually. Revenues for renewable proprietary and panel products are 
recognized on a percentage of completion basis. Customer information products 
are recognized based on actual units shipped/processed.  Revenue for 
conferences is recognized in the period in which the conference takes place.

     The Company's exposure to foreign currency rate fluctuations has been 
relatively low. First, the Company generally requires payment from its 
customers in U.S. dollars. Second, the Company controls vendor related 
foreign currency risk both through contractual clauses requiring clients to 
reimburse the Company for any material losses on contracts caused by exchange 
rate fluctuations and by locking in forward currency contracts. The Company's 
objective in managing the exposure to foreign currency fluctuations is to 
reduce earnings and cash flow volatility associated with foreign exchange 
rate changes.  Accordingly, the Company utilizes foreign currency option 
contracts and forward contracts to hedge a portion of its exposure on 
anticipated transactions and firm commitment transactions.  The currency 
hedged is the British pound.  The Company monitors its foreign exchange 
exposures to ensure the overall effectiveness of its foreign currency hedge 
positions.  However, there can be no assurance the Company's foreign currency 
hedging activities will substantially reduce the impact of fluctuations in 
currency exchange rates on its results of operations and financial position.  
As of March 31, 1998, the Company had entered into open forward contracts for 
U.S. dollar / British pound sterling transactions with a notional value of 
approximately $1.2 million.

RESULTS OF OPERATIONS

     TOTAL REVENUES.   Total revenues increased from $7.5 million to $10.0 
million for the quarters ended March 31, 1997 and 1998, respectively.  This 
growth represents a 33.1% increase for the three-month period ended March 31, 
1998 from the comparable 1997 period.  

     Revenues from continuous services increased 25.9% from $6.5 million to 
$8.2 million for the quarters ended March 31, 1997 and 1998, respectively.  
This increase was due primarily to the addition of the database marketing 
products, expansion of renewable proprietary products primarily in 
the custom panel area, earlier commitment of subscriptions by three large 
customers of IntelliTrack IQ, and an increase in value-added proprietary 
services related to IntelliTrack IQ.  Other revenue increased 82.2% to $1.7 
million for the three months ended March 31, 1998 from $1 million for first 
quarter of 1998.  This increase was due to sales of database marketing 
services to customers not under contract.  The Company anticipates further 
growth of this type of non-continuous revenue.

     Revenues attributable to international market research decreased 18.3% 
from $2.7 million to $2.2 million for the quarters ended March 31, 1997 
and 1998, respectively. During the first quarter of 1997 disk shipments 
accounted for $816,000 of international revenues.  This was due to a 
contract with one company, and the contract is substantially complete.

     COSTS OF REVENUES. Costs of revenues are primarily composed of data 
collection, labor charges, database marketing service charges, royalties, 
telecommunications charges and other costs directly attributable to products 
or projects.  Costs of revenues increased 46.5% from $4.0 million to $5.8 
million for the quarters ended March 31, 1997 and 1998, respectively.  Costs 
of revenues increased as a percentage of total revenues from 52.9% to 58.2% 
for the quarters ended March 31, 1997 and 1998, respectively.  The increase 
was due to a shift in product mix resulting from more accelerated growth in 
the Company's start-up business lines of database marketing and custom panel. 
As anticipated, royalties and service fees for the data base marketing 
products were less than that required to satisfy the prorated annual target 
minimum payments under an exclusive licensing agreement therefore, the 
Company recognized an additional expense during the first quarter of 1998. 
The increase in cost of revenues was partially offset by a decrease in low 
margin disk shipment activity and registration costs. The Company also 
wrote-off non-productive assets related to software licensing.

                                       11

<PAGE>

     SALES, GENERAL AND ADMINISTRATIVE EXPENSES.  Sales, general and 
administrative expenses consist primarily of personnel and other costs 
associated with sales, marketing, administration, finance, information 
systems, human resources and general management.  Sales, general and 
administrative expenses increased 125.3% from $2.7 million to $6.1 million 
for the quarters ended March 31, 1997 and 1998, respectively.  As a 
percentage of total revenues, sales, general and administrative expenses 
increased to 61.5% for the first quarter of 1998 from 36.3% for the first 
quarter of 1997. The increase is primarily a result of  the ramp-up of the 
sales force during the last six months of 1997 and reorganization efforts 
during the first quarter of 1998.  Sales, general and administrative expenses 
for the first quarter of 1998 include one-time adjustments totaling $1.5 
million in expense related to the aforementioned reorganization.  Before the 
affect of these one-time charges sales, general and administrative expenses 
increased 79.3% from $2.7 million to $4.6 million for the quarters ended March 
31, 1997 and 1998, respectively and first quarter 1998 expenses were 46.5% of 
revenues.  Acquisition costs expensed were $137,000 for the three months 
ended March 31, 1997.

     PRODUCT DEVELOPMENT EXPENSES.  Product development expenses include 
costs incurred to develop or design new products, services or processes and 
significantly enhance existing products, services, and processes.  Product 
development expenses were $409,000 and $2.4 million for the three months 
ended March 31, 1997 and 1998, respectively.  As a percentage of total 
revenues, product development expenses represented 5.5% and 23.9% for the 
first quarters of 1997 and 1998, respectively.   The increase is primarily 
related to one-time charges during the first quarter of 1998 to write-off 
capitalized software development costs totaling $2.0 million due to an 
impairment in foreseeable future benefit. Before the effect of these one-time 
charges, product development expenses for the first quarter of 1998 were flat 
in absolute dollars versus the prior year and represented 4% of total 
revenues for the quarter. 

     DEPRECIATION AND AMORTIZATION.  Depreciation and amortization increased 
54.5% from $213,000 to $329,000 for the quarters ended March 31, 1997 and 
1998, respectively.  This increase was principally due to purchases of 
computer equipment and costs associated with the acquisition of advanced data 
delivery alternatives to improve communications and data processing systems 
required to support business growth and international expansion during 1997.

     INCOME TAXES.  Benefit for income taxes as a percentage of income before 
income taxes represent 44.4% for the quarter ended March 31, 1998.  This 
rate is higher than the Company's combined federal and state income tax rates 
due to significant interest income derived from investments in tax-free 
investments as a percentage of income (loss) before taxes. 

LIQUIDITY AND CAPITAL RESOURCES

     As of March 31, 1998, the Company had cash of $366,000, short term 
investments of $38.7 million and working capital of $46.2 million.

                                       12

<PAGE>

     During the three months ended March 31, 1998, the Company used $2.9 
million for operating activities versus $980,000 during the same period in 
the prior year.  This increase in cash flow used for operations was primarily 
due to the Company's net loss before one-time charges combined with a shift 
in the timing of client billings.  Billed amounts are recorded as deferred 
revenues on the Company's financial statements and are recognized as income 
when earned.  As of March 31, 1997 and 1998  the Company had $2.4 million and 
$2.2 million, respectively,  of deferred revenues.  In addition, when work is 
performed in advance of billing, the Company will record this work as 
unbilled revenue.  As of March 31, 1997 and 1998, the Company had $2.8 
million and $4.7 million of unbilled revenues, respectively, further 
indicating this shift in client billings. Substantially all deferred and 
unbilled revenues will be earned and billed, respectively, within 12 months 
of the respective period ends. 

     For the three months ended March 31, 1997 and 1998, the Company 
generated net cash from investing activities of $2.3 million and $1.5 
million, respectively, primarily from investments in short-term securities. 

     The Company used cash for financing activities of $524,000 and $12,000 
in the quarters ended March 31, 1997 and 1998, respectively.  During the 
first three months of 1997, cash was used primarily for repayments under a 
line of credit. Use of cash during the first three months of 1998 was 
primarily for capital lease obligation payments.

          The Company believes that the cash flows from operations, together 
with existing cash balances, short term investments and the line of credit, 
will be sufficient to meet its working capital and capital expenditure 
requirements for at least the next 12 months.  Beyond that time, if cash 
flows from operations and available borrowing from the line of credit are not 
sufficient to satisfy its financing needs, the Company may seek additional 
funding through the sale of its securities, including equity securities. 
There can be no assurance that such funding can be obtained on favorable 
terms, if at all. 

YEAR 2000

     The Company has conducted a review of its computer systems to identify 
those areas that could be affected by the "Year 2000" issue and is developing 
a plan to resolve identified problems.  The Company presently believes, 
with modification to existing software and the conversion to new software, the 
Year 2000 problem will not pose significant operational problems and is not 
anticipated to be material to its financial position or results of operations 
in any given year.
 
STOCK REPURCHASE PROGRAM

     In January 1998, the Board of Directors approved the repurchase of up to 
850,000 shares of the Company's outstanding common stock.  As of the date of 
this filing there were no repurchases under the plan.

RISK FACTORS 

     RISKS ASSOCIATED WITH DATABASE MARKETING INFORMATION SERVICES.  The 
Company hopes to achieve a significant portion of its future revenue growth 
through the expansion of its customer registration business and the 
development of database marketing products associated with the registration 
business.  

                                       13

<PAGE>

The Company has limited experience in the database marketing industry and 
there can be no assurance that the Company will be successful in developing 
and marketing its new line of database marketing products.  The Company also 
intends to rely in large part on strategic alliances and the acquisition of 
related technologies in order to expand its database marketing offerings. The 
Company's management has limited experience dealing with the issues of 
product, systems, personnel and business strategy integration posed by such 
alliances and acquisitions, and no assurance can be given that such alliances 
and acquisitions will be managed without a material adverse effect on the 
business of the Company.  The Company intends to process its database 
marketing solutions through a licensing agreement under which the Company has 
a perpetual, but cancelable, contract to receive such services from the 
licensor. The Company currently has no other means of providing alternative 
methods of processing in the event of a natural catastrophe, cancellation of 
the contract, or other unforeseeable event. In addition, a significant amount 
of projected database marketing revenues is attributable to this licensing 
agreement which is cancelable by either party under certain conditions. 

     HISTORY OF NET LOSSES; UNCERTAIN PROFITABILITY.  The Company incurred 
net annual losses in each year from 1991 through 1994 before recording a net 
profit in each of 1995 and 1996 and 1997.  In view of the Company's prior 
operating history and recent reorganization, there can be no assurance that 
the Company will be able to maintain profitability on a quarterly or annual 
basis or that it will be able to sustain or increase its revenue growth in 
future periods. 

     RELIANCE ON KEY CUSTOMERS; TECHNOLOGY INDUSTRY CONSOLIDATION.  The 
Company has relied on a limited number of key customers for the majority of 
its revenues. The Company's 10 largest customers in   1997 generated  55.1% 
of the Company's revenues for the year. In 1997, the Company's two largest 
customers, IBM and Hewlett-Packard, each accounted for over 10% of the 
Company's revenues and together accounted for 27.7% of revenues. The Company 
expects that three customers will each account for over 10% of revenues in 
1998. Over time key customers will vary depending upon the seasonality or the 
nature of the contracts. Substantially all of the Company's subscriptions and 
customer contracts are renewable annually at the option of the Company's 
customers, although no obligation to renew exists and a customer generally 
has no minimum purchase commitments thereunder. In addition, significant 
consolidation of companies in the technology industries served by the 
Company is underway, a trend, which the Company believes, will continue. 
Consolidation among the Company's top customers could adversely affect 
aggregate customer budgets for the Company's products and services. No 
assurances can be given that the Company will maintain its existing customer 
base or that it will be able to attract new customers. The loss of one or 
more of the Company's large customers or a significant reduction in business 
from such customers, regardless of the reason, would have a material adverse 
effect on the Company. 

     DEPENDENCE ON SUBSCRIPTION AND CONTRACT RENEWALS.  In 1997, 87.0% of the 
Company's revenues were derived from subscriptions to the Company's renewable 
subscription based products and contracts for renewable proprietary products. 
The Company expects that a material portion of its revenues for the 
foreseeable future will continue to be derived from such subscriptions and 
contracts. Substantially all such subscriptions and customer contracts are 
renewable annually at the option of the Company's customers, although no 
obligation to renew exists and a customer generally has no minimum purchase 
commitments thereunder. To the extent that customers fail to renew or defer 
their renewals from the quarter anticipated by the Company, the Company's 
quarterly results may be materially adversely affected. The Company's ability 
to secure renewals is dependent upon, among other things, its ability to 
deliver consistent, high quality and timely data. In addition, the marketing 
and market research activities of the Company's customers are dependent on 
the timing of their new product introductions, size of marketing budgets, 
operating performance, industry and economic conditions and changes in 
management or ownership. As a result of such factors, there can be no 
assurance that the Company will be able to maintain its historically high 
renewal rates. Any material decline in renewal rates from such levels would 
have a material adverse effect on the Company's operating results.

     FLUCTUATIONS IN OPERATING RESULTS; SEASONALITY.  The Company's operating 
results in any particular fiscal period have fluctuated in the past and will 
likely fluctuate significantly in the future due to various factors.  The 
Company expects that revenues from customer registration products will 
continue 

                                       14

<PAGE>

to increase during 1998.  However, such revenues are primarily a function of 
the timing of customer shipments, which can be difficult to forecast and over 
which the Company has no control.  Any delay in customer orders for the 
Company's customer registration products, or a decrease in orders due to 
adoption by customers of custom software applications, could have a material 
adverse effect on the Company's future operating results.  In addition, 
substantially all revenues and expenses attributable to the Company's CIMS 
product for a particular year are deferred and recognized when the final 
study is completed and delivered, usually in the third quarter of that year. 
Delay in delivering the final study in any given year could postpone 
recognition of such revenues and expenses until the fourth quarter of such 
year, which would materially affect operating results for such third and 
fourth quarters. Furthermore, all costs related to CIMS are included in cost 
of revenues and none are allocated to sales, general and administrative 
costs, which tends to reduce the Company's third quarter gross margin below 
that of other quarters. Many of the Company's customers operate in industry 
segments that are becoming increasingly seasonal as technology vendors have 
increased their focus on consumer markets, with sales in the fourth calendar 
quarter constituting a growing portion of the annual sales of such customers. 
This may translate into seasonal demand for the Company's products, 
particularly the customer registration products. In addition, the Company's 
operating results may fluctuate as a result of a variety of other factors, 
including the timing of orders from customers, the size and timing of orders 
for customer registration products, response rates on customer information 
products, delays in development and customer acceptance of custom software 
applications, product or panel development expenses, new product or service 
introductions or announcements by the Company or its competitors, levels of 
market acceptance for new products and services, the hiring and training of 
additional staff and customer demand for market research, as well as general 
economic conditions. Because a significant portion of the Company's overhead 
is fixed in the short term and because spending commitments must be made in 
advance of revenue commitments by customers, the Company's results of 
operations may be materially adversely affected in any particular quarter if 
revenues fall below the Company's expectations. These factors, among others, 
make it likely that in some future quarter the Company's operating results 
may be below the expectations of securities analysts and investors, which 
would have a material adverse effect on the market price of the Company's 
Common Stock.

     MANAGEMENT OF GROWTH; POSSIBLE ACQUISITIONS.  Since inception, the 
Company's growth has placed significant demands on the Company's management, 
administrative, operational and financial resources. In order to manage its 
growth, the Company will need to continue to implement and improve its 
operational, financial and management information systems and continue to 
expand, motivate and effectively manage an evolving and expanding workforce. 
If the Company's management is unable to effectively manage under such 
circumstances, the quality of the Company's products, its ability to retain 
key personnel and its results of operations could be materially adversely 
affected. Furthermore, there can be no assurance that the Company's business 
will continue to expand. The Company's growth could be adversely affected by 
reductions in customers' spending on market research or customer information 
products, increased competition, possible pricing pressures and other general 
economic trends. Although market research expenditures by technology 
companies have increased in recent years as such companies have adopted 
certain marketing strategies traditionally utilized by consumer goods 
manufacturers, there can be no assurance that this trend will continue or 
that technology companies will continue to rely on externally generated 
market research to enhance the marketing of their products. 

     The Company hopes to achieve a portion of its future revenue growth, if 
any, through acquisitions of complementary businesses, products or 
technologies, although the Company currently has no commitments or agreements 
with respect to any such acquisition. As part of this strategy, the Company 
acquired certain assets of Information Technology Forum, Inc. ("ITF") in 
January 1998. The Company's management has limited experience dealing with 
the issues of product, systems, personnel 

                                       15

<PAGE>

and business strategy integration posed by acquisitions, and no assurance can 
be given that the integration of the ITF acquisition, or any past or possible 
future acquisitions will be managed without a material adverse effect on the 
business of the Company. In addition, there can be no assurance that any 
possible future acquisition will not dilute the Company's earnings per share. 

     COMPETITION.  Overall, the technology focused market research industry 
is highly competitive. The Company has traditionally competed directly with 
relatively small, local providers of survey based technology focused market 
research. The Company also competes directly with third party providers of 
customer information software, such as Leader, Inc., as well as vendors' own 
customer information software. In addition, the Company competes indirectly 
with significant providers of (i) analyst based, technology focused market 
research (such as Gartner Group, Inc., META Group, Inc. and Forrester 
Research, Inc.); (ii) survey based, general market research (such as NFO 
Research, Inc., Market Facts, Inc., Information Resources, Inc. and The NPD 
Group, Inc.); (iii) analyst based, general business consulting and (iv) 
database marketing (such as Axciom Corporation and Metromail Corporation). 
Most of these competitors have substantially greater financial, information 
gathering and marketing resources than the Company and could decide to 
increase their resource commitments to the Company's market. Moreover, each 
of these companies currently competes indirectly, if not directly, for funds 
available within aggregate industry wide market research budgets. There are 
few barriers to entry into the Company's market, and the Company expects 
increased competition in one or more market segments addressed by the 
Company, which could adversely affect the Company's operating results through 
pricing pressure, required increased marketing expenditures and loss of 
market share, among other factors. There can be no assurance that the Company 
will continue to compete successfully against existing or new competitors.

     DEPENDENCE ON KEY PERSONNEL.  The Company's future performance will 
depend to a significant extent upon the efforts and abilities of key 
personnel who have expertise in developing, interpreting and selling survey 
based information for technology markets. Although customer relationships are 
managed at many levels in the Company, the loss of one or more of 
IntelliQuest's corporate officers or senior managers could have an adverse 
effect on the Company's business. The Company's success may also depend on 
its ability to hire, train and retain skilled personnel in all areas of its 
business. Competition for qualified personnel in the Company's industry is 
intense, and many of the companies with which the Company competes for 
qualified personnel have substantially greater financial and other resources 
than the Company. Furthermore, competition for qualified personnel can be 
expected to become more intense as competition in the Company's industry 
increases. There can be no assurance that the Company will be able to 
recruit, retain and motivate a sufficient number of qualified personnel to 
compete successfully.

     DEVELOPMENT OF DIRECT SALES FORCE.  The Company has historically relied 
on customer referrals, supplemented by its own sales and marketing efforts, 
to generate the majority of its revenue growth.  As the Company develops new 
products and services targeted at more complex, integrated marketing 
solutions, it intends to continue to develop and expand its sales force. The 
Company's plans for future growth may depend in part on, among other things, 
its unproven ability to hire, train, deploy, manage and retain an 
increasingly large and more sophisticated direct sales force. There can be no 
assurance that the Company will be able to develop or manage such a sales 
force. 

     RAPID TECHNOLOGICAL CHANGE AND NEW PRODUCT INTRODUCTION.  The Company's 
customers compete in markets characterized by rapid, continual technological 
change. The Company's success will depend in part upon its ability to 
anticipate and keep pace with rapidly changing technology and to add new 
products and services which address the increasingly sophisticated, rapidly 
changing and demanding needs of its customers and their evolving market 
strategies. In particular, the Company is 

                                       16

<PAGE>

expending significant resources to develop its proprietary customer 
information products to take advantage of certain market opportunities. 
However, such software products may contain defects following customization 
or when new versions are released; the Company has in the past discovered 
software defects in certain of its products and may experience delays or lost 
revenue to correct such defects in the future. In addition, the significant 
growth in the use of the World Wide Web has created the opportunity to use 
the Internet as an information transmission medium. Accordingly, the Company 
is expending significant resources to develop Internet based information 
collection tools and data delivery. There can be no assurance, however, that 
the Company will be successful in developing and marketing, on a timely 
basis, these or other new or improved products and services that adequately 
and competitively address the needs of the marketplace. Any failure to 
continue to provide insightful and timely data in a manner that meets rapidly 
changing market needs could materially and adversely affect the Company's 
future operating results. 

     DATA COLLECTION RISKS.  The Company currently collects information both 
telephonically and electronically. In addition, certain of the Company's new 
products and services involve the use of the Internet and commercial online 
services to gather information from end users for processing and sale to 
customers of the Company. A number of legislative initiatives exist 
domestically and abroad that seek to regulate the telephonic or electronic 
collection of data about persons. In addition, an increasing number of court 
cases have been brought seeking damages and injunctive relief for actions 
allegedly violating so called ""rights of privacy.'' The law in this area, 
both statutory and case law, is highly unsettled. No assurance can be given, 
therefore, that the Company will be allowed to continue to pursue existing or 
proposed new products and services. In addition, the Company's ability to 
provide timely and accurate market research to its customers depends on its 
ability to collect large quantities of high quality data through interviews, 
customer registrations, product satisfaction questionnaires and certain other 
surveys. If receptivity to the Company's customer registration, interview and 
survey methods by respondents declines, or for some other reason their 
willingness to complete and return surveys, registrations, or other 
information declines, or if the Company for any reason cannot rely on the 
integrity of the data it receives, it would reduce the quantity and/or 
quality of the data the Company seeks to disseminate and would have a 
material adverse effect on the Company's ability to market and sell its 
market research products and on its results of operations. 

     RISKS RELATED TO CIMS.  CIMS is one of the leading databases of media 
readership and viewership habits of both business and household technology 
purchase influencers in the United States. Because many advertisers use CIMS 
data as a key component in their media buying decisions and because many 
media companies use CIMS data to promote their media properties, such data 
can have a significant impact on advertiser demand for, and advertising rates 
charged by, such media properties. In the past, it has not been unusual for 
media companies with properties that have not performed well in the studies 
to be dissatisfied with the results of the studies or the manner in which 
such results have been used by their competitors. Although media company 
dissatisfaction has not resulted in litigation against the Company, there can 
be no assurance that the Company will not face future litigation as a result 
of media company dissatisfaction with CIMS or the results thereof, and if 
initiated, that such litigation will not have a material adverse effect on 
the Company's business, financial condition or results of operations. 

                                       17

<PAGE>

     LIMITED PROTECTION OF PROPRIETARY SYSTEMS, SOFTWARE AND PROCEDURES.  The 
Company's success is in part dependent upon its proprietary software 
technology, research methods, data analysis techniques, and internal systems 
and procedures that it has developed specifically to serve customers in the 
technology industry. The Company has no patents; consequently, it relies on a 
combination of copyright, trademark and trade secret laws and employee and 
third party non disclosure agreements to protect its proprietary systems, 
software and procedures. There can be no assurance that the steps taken by 
the Company to protect its proprietary rights will be adequate to prevent 
misappropriation of such rights or that third parties will not independently 
develop functionally equivalent or superior systems, software or procedures. 
The Company believes that its systems, software and procedures and other 
proprietary rights do not infringe upon the proprietary rights of third 
parties. There can be no assurance, however, that third parties will not 
assert infringement claims against the Company in the future or that any such 
claims will not require the Company to enter into materially adverse license 
arrangements or result in protracted and costly litigation, regardless of the 
merits of such claims. 

     RISKS ASSOCIATED WITH INTERNATIONAL OPERATIONS.  Revenues attributable 
to international market research represented 28.6% of the Company's revenues 
for 1997. The Company expects that revenues from international market 
research will continue to account for a significant portion of its revenues 
and intends to continue to expand its international market research efforts. 
However, the Company's international data collection operations are subject 
to numerous inherent challenges and risks, including maintenance of an 
international data collection network that adheres to the Company's quality 
standards, fluctuations in exchange rates, foreign political and economic 
conditions, tariffs and other trade barriers, longer accounts receivable 
collection cycles and potentially adverse tax consequences. In addition, 
demand for the Company's international market research depends on the 
international sales and operations of its customers, which may increase or 
decrease over time. The addition of market research coverage in new 
geographic territories can be expected to require the commitment of 
considerable management and financial resources and may negatively impact the 
Company's near term results of operations. Any material decline in the 
Company's ability to provide and market timely, high quality data that is 
consistent across international markets would have a material adverse effect 
on the Company's results of operations. 

     VOLATILITY OF STOCK PRICE.  The trading price of the Company's Common 
Stock has been volatile and is likely to continue to be subject to wide 
fluctuations in response to a variety of factors, including quarterly 
variations in operating results, the signing of new contracts, new customers, 
consolidations in the industry, technological innovations or new products by 
the Company or its competitors, developments in patents or other intellectual 
property rights, general conditions in the  technology-focused market 
research industry, revised earnings estimates, comments or recommendations 
issued by analysts who follow the Company, its competitors or the 
technology-focused, market research industry and general economic and market 
conditions.   In addition, it is possible that in some future period the 
Company's operating results may be below the expectations of public market 
analysts and investors.  In such event, the price of the Company's Common 
Stock could be materially adversely affected. Additionally, the stock market 
in general has experienced extreme price volatility in recent years.  
Volatility in price and volume has had a substantial effect on the market 
prices of many  companies for reasons unrelated or disproportionate to the 
operating performance of such companies.  These broad market fluctuations 
could have a significant impact on the market price of the Company's Common 
Stock.

                                       18

<PAGE>

Part II.  Other Information
----------------------------

Item 1.   Legal Proceedings
     None.

Item 2.   Changes in Securities
     In connection with the acquisition by the Company of certain assets of 
Information Technology Forum, Inc. ("ITF") in January 1998, the Company 
issued 67,532 shares of its common stock and paid $150,000 to ITF in exchange 
for assets valued at $883,000 including cash accounts of $12,000. No 
underwriters were used in connection with the issuance. With respect to the 
issuance, the Company relied on the exemption from registration afforded by 
Section 4(2) of the Securities Act of 1933, as amended.

Item 3.   Defaults Upon Senior Securities
     None.

Item 4.   Submission of Matters to a Vote of Security Holders
     None.

Item 5.   Other Information
     None

Item 6.  Exhibits and Reports on Form 8-K
         (a) Exhibits
             11.1 Statement Regarding Computation of Net Income Per Share.
             27   Financial Data Schedule 
         (b) Reports on Form 8-K
             None.

                                       19

<PAGE>

SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the 
registrant has duly caused the report to be signed on its behalf by the 
undersigned thereunto duly authorized.

DATED May 15, 1998
                                       IntelliQuest Information Group, Inc.
                                       (Registrant)



                                By:    /s/ Susan Georgen-Saad     
                                       ----------------------------------------
                                           Susan Georgen-Saad
                                           Chief Financial Officer

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