MDC Partners, which ousted its chief executive Miles Nadal last month, saw a 17.4% climb in revenue in its strategic marketing services (advertising and PR) operation for the second quarter to $270.1M.
MDC's performance marketing operations (data analytics, experiential) fell 3.9% to $66.5M for Q2. Revenue across the board rose 12.4% to $336.6M, including an organic gain of 8.3%, and net income reached $29.6M.
The conglomerate's PR operations include Allison+Partners, Kwittken and Sloane & Co., among others.
Scott Kauffman, a board member who took the chairman and CEO reins last month, pointed to wins for PayPal, Hershey and Novartis as key to net new business of $27.3M for the quarter. He outlined three priorities for MDC: growth in North America, media buying scale, and M&A.
"While we have work to do to ensure that we recapture your trust, I intend to demonstrate to all of you that our best days are ahead," he said in a conference call.
MDC paid out $96M in deferred acquisition expenses and closing payments in Q2. It has about $35M in cash on its balance sheet.
Nadal and chief accounting officer Michael Sabatino stepped down in July amid an SEC probe into expenses. Legal expenses for the company during Q2 hit $3.9M, but Nadal paid back expenses of $8.6M to the company during the period, as well. It expects another $12.7M to be paid back, as well.
Abandon traditional content plans focused on a linear buyer progression and instead embrace a consumer journey where no matter which direction they travel, they get what they need, stressed marketing pro Ashley Faus during O'Dwyer's webinar Apr. 2.
Freelance marketers and the companies that hire them are both satisfied with the current work arrangements they have and anticipate the volume of freelance opportunities to increase in the future, according to new data on the growing freelance marketing economy.
Home Depot's new attempt to occupy two market positions at once will require careful positioning strategy and execution to make it work.
Verizon snags Peloton Interactive chief marketing officer Leslie Berland as its new CMO, effective Jan. 9. Berland succeeds Diego Scotti, who left Verizon earlier this year. 
Norm de Greve, who has been CMO at CVS Health since 2015, is taking the top marketing job at General Motors, effective July 31.
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