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| 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.
Publicis Groupe’s H1 net revenues inched ahead by 1.1 percent to $8.3B. Organic growth hit the 4.7 percent mark.
Public Policy Holding Company grew 27.5 percent to $50.1M during Q1, powered by the accelerating contribution from recent acquisitions and a 5.1 percent hike in organic revenues across its three operating segments.
Institutional Shareholder Services advises investors to vote "no" on a compensation package for WPP chief Cindy Rose at the May 8 annual meeting.
FTI Consulting chalked up a 9.5 percent rise in Q1 revenues to $983.3M, powered by gains in its PR, corporate finance and technology segments.
Stagwell reports 4 percent growth in Q1 net revenues to $585M and a record $141M in net new business wins.
