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| Philippe Krakowsky |
Interpublic’s Q2 net revenues grew 4.7 percent to $2.4B as CEO Philippe Krakowsky reported broad-based gains across all world regions, client sectors and operating units. Organic growth advanced 7.9 percent.
He said the firm benefitted from its ability to bring together creativity, digital technology and data to create marketing solutions that are responsive to the evolving business transformation needs of our clients.
The specialized communications & experiential solutions unit, which includes IPG DXTRA, DXTRA Health, Weber Shandwick, Golin, Jack Morton, Momentum and Octagon, reported 8.5 percent growth to $348.4M. It was up 11.1% on an organic basis.
The segment gained as consumer demand for physical and live events returned to pre-pandemic levels.
On the PR front, Weber, Golin, Current Global, DeVries Global and R&CPMK registered mid-single digit growth.
DXTRA Health landed global enterprise agency of record duties for Moderna. It will draw on talent from Weber, Golin and Jack Morton to bolster Moderna’s worldwide reputation.
Weber Shandwick picked up significant assignments from major brands, including expanded business from Mars for its Skittles, Orbit, 5 and Extra brands.
Group Black, a collective that supports Black-owned media properties, hired Weber for external marketing and communications services.
Golin became the agency of record for West Monroe, a digital consultancy.
Looking ahead, Krakowsky notes the communications business faces a period of macroeconomic and geopolitical uncertainty and the limited visibility that comes with such an environment.
“We will stay close to and support our people and our clients, remain disciplined in managing our operations, and maintain the strength of our balance sheet.,” he said.
IPG expects full-year organic growth to top 6.5 percent.
Stagwell registered an eight percent rise in Q1 revenues to $670M and a $1.3M net loss compared to a $1.4M profit last year.
WPP reported a 5.5 percent decline in Q1 PR revenues to $292M as its BCW and Hill & Knowlton units suffered the loss of Pfizer assignments, and cutbacks in client spending due to the economic uncertainty.
Interpublic CEO Philippe Krakowsky said the firm is off to a “solid start to the year” as its flat $2.2B net revenues are in line with 2024 financial targets.
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Omnicom CEO John Wren reports Q1 revenues jumped 5.4 percent to $3.6M, powered by a solid 7.0 percent rise in its advertising & media segment.
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