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Interpublic reported Q2 net revenues dropped 6.6 percent to $2.2B and operating income tumbled 23.4 percent to $243.7M.
Operating income included a $118M restructuring charge and $10.9M in costs related to the Omnicom takeover.
CEO Philippe Krakowsky said client activity during the first-half was “largely resilient in the face of macro uncertainty.”
The Omnicom deal is on target to be completed during the second half of the year. “The level of interest and support from clients continues to be strong, and there is enthusiasm on the part of practitioners across both organizations to unlock the value that the combination will create,” said Krakowsky.
Combining OMC’s and IPG’s talent, complementary capabilities, and geographic strengths, will create “an organization with unmatched ability to deliver business outcomes for marketers in every industry sector, around the world,” according to Krakowsky.
During Q2, IPG’s Weber Shandwick, Golin, IPG DXTRA Health and experiential agencies group posted 3.1 percent revenue growth to $364.5M. It was up 2.3 percent organically.
First-half revenue was flat at $691.4M.
Public Policy Holding Company grew 27.5 percent to $50.1M during Q1, powered by the accelerating contribution from recent acquisitions and a 5.1 percent hike in organic revenues across its three operating segments.
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."
