Interpublic reports revenue increase of 6.1% in Q1

By Ishbel Macleod | PR and social media consultant

Interpublic Group

|

financial results article

April 22, 2014 | 2 min read

Interpubic reported a first quarter operating loss of $11.7m, compared to a loss of $42.4m a year ago, as its Q1 figures for 2014 were released today.

First quarter 2014 revenue was $1.64bn, compared to $1.54bn in the first quarter of 2013, with an organic revenue increase of 6.6 per cent year-on-year.

Operating margin was -0.7 per cent for the first quarter of 2014, compared to -2.7 per cent in 2013.

"We are pleased to report a strong quarter in terms of organic revenue growth and earnings performance," said Michael I. Roth, Interpublic's chairman and CEO.

"We saw solid contributions from across our agency portfolio, with strength in the US, as well as significant growth in Latin America and Asia. Our ability to deliver customised, integrated service offerings is increasingly becoming a differentiator for us, as are our digital capabilities. We believe that we remain well-positioned to meet or exceed our 2014 organic growth target of three to four per cent and an operating margin of 10.3 per cent or better."

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During the first quarter of 2014, the company repurchased 2.6 million shares of its common stock at an aggregate cost of $44.9m and an average price of $17.17 per share including fees.

Interpublic owns brands such as McCann, GolinHarris and FCB.

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