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Interpublic today reported a one percent drop in Q3 revenues to $1.9B and a 5.3 percent gain in operating income to $219.1M.
CEO Michael Roth blamed IPG's skimpy 0.5 percent hike in organic growth on the negative impact of "broader trends that are being felt throughout much of the industry." Organic growth advanced 1.3 percent in the US, but fell 0.7 percent overseas.
Roth shaved full-year organic growth targets in half to the one-to-two percent range due to "client caution and the macro environment," according to his statement
He's confident of growth over the long-term because IPG's "agencies and talent across the portfolio remain among the best in their respective disciplines."
IPG's constituency management group suffered an 8.7 percent drop in revenues to $382.4M during the quarter. Organic revenues slid five percent.
The PR portion of CMG, which includes Weber Shandwick, DeVries, Creation, Current and Golin, showed a more upbeat performance.
Andy Polansky, CEO of WS, told O'Dwyer's the PR group showed a "slight decrease" during Q3 and was "slightly up" for the year.
WS, added Polansky, was "slightly down" from a tough comparison, though it posted solid gains in the corporate, healthcare and digital sectors.
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. 
