Interpublic Group posts second quarter revenue and income increases
Interpublic Group (IPG) has posted second quarter revenue and profit increases following a solid first quarter.
On Thursday, the company reported that revenue increased to $1.92bn during the second quarter, up 2.2 per cent from the same period last year. IPG’s net income jumped to $160.2m in the second quarter, an increase from 2015’s Q2 posting of $123.8m.
It also experienced an organic revenue increase – a figure that does not take into account mergers, acquisitions and the impact of foreign currency - of 3.7 percent, attributed to an organic increase of 4.6 per cent in the US and 2.3 per cent internationally.
In a statement, CEO of IPG Michael Roth said: “We continued to see positive momentum from a broad range of our creative, marketing services and media offerings. Our digital capabilities also continued to be significant drivers of growth for us.”
He also noted that the New York-based company saw growth at most of its agencies, with R/GA and Huge leading the way.
Roth added that the company is “well-positioned’ to meet its 2016 financial targets. Last quarter, IPG updated its growth target to the high end of its three per cent to four per cent organic growth range.