 |
| Philippe Krakowsky |
Interpublic reported Q1 net revenue dropped 2.3 percent to $2.2B. Organic revenues dipped 0.2 percent compared to a 11.5 percent rise in last year’s period.
CEO Philippe Krakowsky said softness in areas such technology offset good performances in healthcare, media and data-informed practices.
He said Q1 financial results are “consistent with our internal forecast of pacing for the full year, both overall and across each of our operating segments.”
Interpublic’s specialized communications and experiential solutions unit, which includes Weber Shandwick, Golin, Current Global, R&CPMK, DeVries Global, Jack Morton, Momentum, and DXTRA Health) posted 1.2 percent growth to 340.5M. It was up 3.3 percent organically.
Operating income during the quarter plummeted 23.4 percent to $188.3M. IPG spent $77.8M to purchase 2.2M shares at the average price of $35.50. Shares are currently trading at $34.90.
Krakowsky projects full-year organic growth will fall in the midpoint of a two-to-four percent range.
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.
Why financial planning always plays a crucial role in every PR firm’s success.
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.
Public Policy Holding Company registered 24.1 percent growth to a record $135M during the past year, which included the results of the March 1 acquisition of Multistate Assocs.
Have a comment? Send it to 
No comments have been submitted for this story yet.