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Interpublic Group Of Companies Q1 Profit Rises

Interpublic Group of Companies Inc. (IPG) reported that its net income available to IPG common stockholders for the first quarter 2017 significantly increased to $21.5 million or $0.05 per share from $5.4 million or $0.01 per share in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.03 per share for the quarter. Analysts' estimates typically exclude special items.

Operating income in the first quarter of 2017 was $29.7 million, compared to $23.0 million in 2016.

First quarter 2017 revenue increased 0.7% to $1.75 billion, compared to $1.74 billion in the first quarter of 2016, with an organic revenue increase of 2.7% compared to the prior-year period. This was comprised of an organic increase of 2.9% in the U.S. and 2.2% internationally. Analysts expected revenue of $1.76 billion for the quarter.

The company said it believes it is well positioned to achieve its full year targets of organic revenue in the 3% to 4% range, as well as to improve operating margin by an additional 50 basis points relative to 2016 levels.

During the first quarter of 2017, the company declared and paid a common stock cash dividend of $0.18 per share, for a total of $70.9 million.

by RTTNews Staff Writer

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