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| Philippe Krakowsky |
Interpublic’s Q3 net revenues fell 2.9 percent to $2.2B, while operating income plunged 64.7 percent to $132.9M, due largely to a $232.1M non-cash impairment charge for the planned sales of Huge and R/GA.
CEO Philippe Krakowsky said IPG continued to see progress in the evolution of its offerings and organizational structure, as it invested in the stronger, growing areas within the portfolio.
The specialized communications & experiential solutions group (Weber Shandwick, Golin, Current Global, R&CPMK, DeVries Global, Jack Morton, Momentum and DXTRA Health) recorded a 0.9 percent dip in Q3 revenues to $368.1M. It was up 1.2 percent organically.
Krakowsky cited solid gains in the PR group at Weber Shandwick and Golin.
He noted that Weber announced new client partnerships with Primark, The Aspen Group and Bicycle Therapeutics, clinical stage biopharmaceutical company.
Golin saw growth across its practice groups, including influencer marketing, content creation and social.
Krakowsky said IPG sees a strong new business pipeline, for both Q4 activity and longer-term AOR opportunities.
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.
