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| Philippe Krakowsky |
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.
The just completed quarter, which includes a $203.3M restructuring charge, was “consistent with our expectations,” said CEO Philippe Krakowsky. as Interpublic moves to be acquired by Omnicom.
A 3.7 percent decline in revenues from strategic divestitures, 3.6 percent organic decrease and 1.2 percent dip from the negative impact of foreign currency translations accounted for a chunk of the sales shortfall.
Interpublic’s specialized communications & experiential solutions group (Weber Shandwick, Golin, Current Global, R&CPMK, DeVries Global, Jack Morton, Momentum and DXTRA Health) reported a 3.9 percent drop in revenues to $326.9M. It was down 2.4 percent on an organic basis.
On the economic front, Krakowsky said the implications of the Trump policy changes vary among industries and geographies.
“We are working closely with our clients in considering the decisions they may need to make when it comes to channel choices, investment levels, and the best mix of marketing disciplines required to deliver business outcomes in more uncertain economic circumstances,” he said.
Interpublic said it remains on track to complete the Omnicom deal during the second half of this year.
WPP shares have been dropped from the London Stock Exchange’s prestigious FTSE 100 index as its stock market price has plunged by two-thirds this year.
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. 
