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| Philippe Krakowsky |
Interpublic reported flat Q2 net revenues of $2.3B and a 2.4 percent rise in operating income to $318.2M. It also was flat in Q1.
CEO Philippe Krakowsky said the Q2 financial performance was “solid with moderate acceleration in organic growth, as well as margin expansion” compared to the year ago period.
IPG’s best performers were able to “demonstrate specialized, high-value services that identify and reach audiences with greater precision and accountability, in turn leading to growth in our clients’ brands and businesses,” according to Krakowsky.
He’s focused on developing those areas, as well as “integrating generative AI tools and technologies into our content and creative offerings.”
IPG’s specialized communications & experiential solutions, which includes Weber Shandwick, Golin, Current Global, R&CPMK, DeVries Global, Jack Morton, Momentum and DXTRA Health, posted a 1.6 percent decline in revenues to $353.5M. It was up 1.3 percent organically.
Krakowsky is projecting full-year organic growth of about one percent.
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.
FTI Consulting handles the reorganization of Wolfspeed Inc. as the Durham, NC-based semiconductor company moves to slash its debt load.
Stagwell CEO Mark Penn reports Q1 revenues fell 2.7 percent to $651.8M, while its net loss rose from $1.3M to $2.9M.
WPP CEO Mark Read reported like-for-like revenues dropped 2.7 percent to $3.3B in Q1 due to the challenging business environment.
Interpublic suffered a $85.4M Q1 loss as net revenues declined 8.5 percent to $2B. It earned $110.4M in the year-ago period.
