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| Philippe Krakowsky |
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. Operating income fell 2.2 percent to $184.2M.
“Our data and tech driven media offerings, healthcare marketing, and PR capabilities continued to perform strongly, driving our growth," he said.
Noting that client sentiment has improved from the second half of 2023, Krakowsky said IPG’s new business pipeline has become more active.
Interpublic’s specialized communications & experiential solutions unit (Weber Shandwick, Golin, Current Global, R&CPMK, DeVries Global, Jack Morton, Momentum and DXTRA Health) registered flat growth to $340.2M. It was up 1.5 percent organically.
The firm registered sharp Q1 growth in continental Europe of 8.9 percent, while the US was up 2.1 percent, and the Asia-Pacific region declined 8.1 percent.
Krakowsky expects full-year organic growth will fall in the one to two percent range.
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.
WPP reported a 6.7 percent drop to $3.1B in Q1 like-like revenues less pass-through costs. CEO Cindy Rose says 'it will take time to outpace historical losses."
