Interpublic today reported a 1.8 percent rise in Q3 revenues to $1.7B and a 7.7 percent jump in operating profit to $141.5M.
Net income tumbled 27.3 percent to $49.2M due to a $45.5M charge for early retirement of debt.
CEO Michael Roth called the quarter one of "solid growth," buoyed by robust performance in its specialist group and digital operations.
IPG made solid gains in the U.S. and emerging markets, but faced more challenges than anticipated in Europe, which was bolstered in 2012 by the London Olympics.
The firm's constituency management group, which includes Weber Shandwick, GolinHarris, DeVries, Jack Morton, Octagon and FutureBrand, showed a 2.5 percent slip in Q3 revenues to $329.5M. It was up 6.6 percent to $951.9M for the nine-month period.
Weber Shandwick CEO Andy Polansky said the overall PR group “outperformed” the market and posted strong gains.
Roth warned that IPG is “considering targeted year-end cost actions to appropriately position the company for further operating margin expansion in 2014 and beyond.”
For the full-year, IPG posted a 2.2 percent advance in revenues to $5B and a two percent increase in operating profit to $273.9M.
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