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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.
FTI Consulting handles media for Modivcare Inc., the Denver-based provider of non-emergency healthcare services. as a Texas federal bankruptcy court confirms its Chapter 11 restructuring plan.
WPP shares have been dropped from the London Stock Exchange’s prestigious FTSE 100 index as its stock market price has plunged by two-thirds this year.
Public Policy Holding Company registered 23.8 percent Q3 growth to $48.8M, with organic growth contributing 4.5 percent and the balance driven by merger & acquisition activity.
Publicis Groupe reported 3.1 percent in Q3 growth to $4B, sparked by a 3.6 percent jump North America, its biggest market.
WPP suffered a 10.2 percent drop in 1H revenues to $6.7B and a 47.8 percent plunge in operating profit to $297M.
