logo
Share SHARE
FONT-SIZE Plus   Neg

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 RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
As most of us are painfully aware, the days of the pension are mostly gone. The percentage of employers still offering a traditional defined benefit pension plan to newly hired employees fell from about 50% to 5% between 1998 and 2015, according to advisory firm Willis Towers Watson. Many companies... Cruise Critic, a cruise reviews and information site, has announced its 10th annual Editors' Picks Awards for the best cruise ships and lines of 2017. The awards are given in three categories - ocean cruises, luxury cruises and river cruises. Viking Cruises, with five wins, topped the list of award winners. Following Viking in second spot was Crystal Cruises, with four awards. French real estate company Unibail-Rodamco SE Tuesday announced that it has entered into an agreement to acquire Australian shopping centre group Westfield Corp. in a deal that implies an enterprise value of $24.7 billion. The deal is expected to create the world's premier developer and operator of flagship shopping destinations with 61.1 billion euros or $72.2 billion of Gross Market Value.
comments powered by Disqus
Follow RTT