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| Philippe Krakowsky |
Interpublic reported flat Q3 net revenues (+0.6 percent) of $2.3B as its financial performance did not live up to expectations, said CEO Philippe Krakowsky.
He cited lagging activity in the technology and telecom sectors, and clients delaying projects due to concerns over the macroeconomic conditions as crimping Interpublic’s onboarding of new business.
“We are focused on closing the year as strongly as possible and, specific to areas of underperformance, will simultaneously assess internal structural solutions in order to improve our growth profile,” said Krakowsky.
He projects 1 percent organic growth during Q4, compared to the 0.4 percent decline in Q3.
Krakowsky called PR a positive contributor to growth during the period.
On the PR front, IPG’s specialized communications & experiential solutions division, which includes Weber Shandwick, Golin, Current Global, R&CPMK, DeVries Global, Jack Morton, Momentum, and DXTRA Health, reported 7.7 percent growth to $371.3M. It was up 6.5 percent organically.
The unit registered 4 percent growth to $1.1B for the nine-month period, and a 4.5 percent advance on an organic basis.
WPP CEO Cindy Rose declares her stabilization plan is "firmly on track" as the company reports a 4.7 percent dip in 1H revenues.
FTI Consulting reported a 2.6 percent drop in Q2 strategic communications revenues to $100M, a shortfall largely due to a $7.4M decline in pass-through revenues.
Omnicom CEO John Wren reported a 7.2 percent rise in Q2 “core operations” to $6B and a 6.1 percent spurt on an organic basis.
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.
