MDC Partners reported second quarter revenue inched up 0.1% to $337M in a "challenging quarter" as the New York-based PR and marketing group lowered guidance for the year.
Net income fell to $1.2M from $29.6M a year earlier. Net loss for the first six months of the year was $22.1M, up from $2.5M in 2015.
Chairman and CEO Scott Kauffman called Q2 a "challenging quarter for our business" with results below expectations. He stressed a strong underlying business is positioned for growth in the second half.
MDC, which owns PR units like Allison+Partners and Kwittken, said net new business for the year was $57M.
Guidance for 2016 revenue was reduced by $20M to a range of $1.39B to $1.42B.
I run content and partnerships for Black Note, a manufacturer of naturally extracted tobacco e-liquid in Irvine, California.
Wendy's Company has named McDonald's alum Tariq Hassan to the chief marketing and growth officer position, a new post.
Finance of America, a leading reverse mortgage lender, has recruited Jordan Baucum as senior VP communications and Colm Murphy as chief brand officer.
In today’s highly competitive marketplace, ad agencies are increasingly leveraging the power of public relations to build reputations, shape narratives, reinforce areas of expertise, and create content.
