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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 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.
Interpublic reported Q2 net revenues dropped 6.6 percent to $2.2B and operating income tumbled 23.4 percent to $243.7M. 
WPP has adopted a gloomier profit and sales forecast due to a deteriorating Q2 financial performance triggered by weak client spending as companies cope with the challenging economic backdrop.
