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| Philippe Krakowsky |
Interpublic CEO Philippe Krakowsky reported Q4 total revenues rose 1.3 percent to $3B, while operating income soared 36.5 percent to $606.8M.
He said IPG's robust performance in its healthcare, speciality marketing services and media group was tempered by the uncertainties and challenges faced by its technology clients.
Krakowsky said IPG continues to make “strategic investments, including the ongoing development of our leading addressable capabilities, such as our data-powered tools, retail and performance media, and the expansion of our media buying models.”
He projects full-year 1-2 percent organic growth, which would top the 0.1 percent decline in 2023.
IPG’s specialized communications, sports, entertainment & experiential solutions division, which includes Weber Shandwick, Golin, Current Global, R&CPMK, DeVries Global, Jack Morton, Momentum and DXTRA Health, showed 3.8 percent Q4 growth to $370M. It was up 2.9 percent on an organic basis.
For the full-year, the specialized communications group registered $1.4B revenues, which was up 3.9 percent on a reported basis and 4.1 percent organically.
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.
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.
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