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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.
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."
Omnicom CEO John Wren reports Q1 revenues from “core operations” rose 6.7 percent to $5.6B, driven in part by a 3.9 percent boost in organic growth.
