IPG posts profit gains for second quarter
Interpublic Group (IPG), whose agencies include R/GA, FCB, and McCann, has reported a revenue increase of 1.3 per cent to $1.88bn for the second quarter of this year.
Organic revenue, which doesn’t account for one-time occurrences such as acquisitions, was up 6.7 per cent for the quarter compared to last year.
In the US, organic revenue increased 7.7 per cent.
The ad holding company’s net income rose to $123.8m for the quarter, up from last year’s $103.7m.
The earnings beat analyst expectations – the company posted earnings per share of $0.30, but a group of analysts polled by Reuters expected it to be $0.27.
Michael I. Roth, IPG’s chairman and chief executive, said: “We are pleased to report another quarter of strong organic revenue as well as profit growth. We saw positive contributions to our top-line performance from a broad range of our creative, marketing services and media offerings. Our digital capabilities, which we have chosen to embed at every one of our agencies and we've largely developed organically, are consistently among the best in the industry. These digital services continued to be significant drivers of growth for us this past quarter.”
He added that IPG’s organic growth target for 2015 is now 4 to 5 per cent.