 Michael Roth |
Interpublic CEO Michael Roth today reported a 3.4 percent increase in Q3 net revenues to $1.9B and a 2.6 percent jump in operating income to $261.7M.
Organic growth moved ahead 5.4 percent. US grew 5.0 percent, while international rose 6.0 percent organically.
Roth attributed Q3 growth to a strong performance in the US and key international markets driven by robust results in media, digital offerings, marketing services agencies and IPG's three global creative networks.
IPG 's constituency management group, which includes Weber Shandwick, Golin, Rogers & Cowan, DeVries Global, Current and pmk*bnc, registered 4.7 percent growth to $315.2M during the period. It rose 3.9 percent on an organic basis.
Andy Polansky, Weber Shandwick CEO, said the PR units of the CMG group registered mid-single-digit growth on both a reported and organic basis.
Weber and Golin reported solid gains from clients tapping their integrated communications offerings, while R&C benefitted from companies using its brand and entertainment expertise, according to Polansky.
He also said the PR firms are working more closely together as part of IPG's "open architecture model."
Weber, which is IPG's flagship enjoyed double-digit growth in a dozen overseas markets, including China, and a nice pick-up in its North American business, said, Polansky. Technology and healthcare paced the firm's gains.
With the completion of the Acxiom acquisition, Roth said IPG is "in a strengthened position to help clients succeed in a world where data-driving marketing solutions are increasingly core to brands' success."
He reiterated the firm's goal of achieving annual organic growth from 4.0 to 4.5 percent.
IPG had $1.9B in cash, cash equivalents and marketable securities on Sept. 30 vs. $705M a year ago.
Total debt of $3.3B compares to $1.4B in 2017.
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Stagwell reports 4 percent growth in Q1 net revenues to $585M and a record $141M in net new business wins.
WPP reported a 6.7 percent drop to $3.1B in Q1 like-like revenues less pass-through costs. CEO Cindy Rose says 'it will take time to outpace historical losses."
