 Michael Roth |
Interpublic today reported first-quarter revenues grew 5.1 percent to $2.2, while operating income advanced 11.8 percent to $38.8M.
Organic growth rose 3.6 percent, driven by a robust 4.3 percent gain in the US.
The ad/PR conglomerate posted a $14.1M net loss during the period vs. a year ago $24.7M profit due to charges such as a $24M loss of the sales of businesses.
A range of agencies and marketing disciplines contributed to IPG's performance, according to CEO Michael Roth, "including media, our three global creative networks, as well as digital, sports and experiential marketing."
He said the "current tone of business" has IPG on track to meet its goal of hitting the high-end two to three percent organic growth.
The Constituency Management Group, which includes PR units such as Weber Shandwick, Golin, DeVries Global, Current and pmk*bnc, charted 3.0 percent growth to $292.7M. Organic growth was up 0.6 percent.
Andy Polansky, CEO of Weber Shandwick, told O'Dwyer's the PR component of CMG was up "in the low single digits, on an as-reported basis, while slightly down organically."
He said the pace of business has improved, especially at Weber and Golin, with upswings in new business activity and growth from existing clients.
Technology, healthcare, content marketing and data analytics sparked Weber during the quarter along with strong results in Europe (UK, Netherlands) and Asia (South Korea, Indonesia, Malaysia and India).
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
