IPG credits media and creative networks after third quarter revenue rise
Interpublic Group has reported net revenue of $1.9bn for Q3 of 2018 – an increase of 3.4% on the same period last year.
IPG boss Michael Roth
The New York-based holding company, which counts McCann, FCB and Mullen Lowe Group among its stable, announced net profit of $161m in the quarter.
Net revenue for the first nine months of the year stood at $5.62bn, up 5.2% on 2017, as the marcomms group recorded net profit of $292.7m.
"We are extremely pleased with our performance this quarter and year-to-date,” said IPG chairman and chief executive Michael Roth. “We continue to deliver notably strong growth in the US and in many international regions.
“These results were driven by strong top- and bottom-line performance in media, as well as growth from our three global creative networks, our marketing services agencies and our digital offerings.”
Roth heralded IPG’s $2bn acquisition of data marketing business Axciom this week as another source of optimism for the marcomms business.
"With the completion of the Acxiom acquisition, we have a strengthened position to help clients succeed in a world where data-driven marketing solutions are increasingly core to brands' success,” he said.
“We also feel that we remain positioned to achieve our previously stated goal of net revenue organic growth of 4.0% to 4.5% and margin expansion of 60 to 70 basis points.”
IPG’s results come a day after rival Publicis Groupe posted a net revenue rise of 1.3% for Q3.