logo
Plus   Neg
Share
Email

Interpublic Group Q1 Results Beat View; Affirms FY19 Outlook - Quick Facts

Interpublic Group of Companies Inc. (IPG) on Friday reported that its first-quarter net loss available to IPG common stockholders was $8.0 million or $0.02 per share, narrower than net loss of $14.1 million or $0.04 per share in the year-ago period.

The latest quarter's results include amortization of acquired intangibles of $17.4 million, after-tax restructuring charges of $24.2 million, and after-tax loss of $8.6 million on the sales of businesses.

Excluding items, adjusted earnings for the quarter were $0.11 per share, compared to adjusted earnings of $0.04 per share a year ago.

Net revenue for the quarter grew 13 percent to $2.00 billion from $1.77 billion last year. Organic net revenue increased 6.4 percent, which excludes results from Acxiom.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.04 per share for the quarter on revenues of $1.96 billion. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2019, the company confirmed it is on track to achieve its full-year organic net revenue growth target of 2.0 percent to 3.0 percent, and adjusted EBITA margin expansion of 40 to 50 basis points.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Walt Disney Co. confirmed that its upcoming streaming service Disney+ will launch in five countries, including the U.S., in November this year. The company has reached global agreements with major platforms to distribute the Disney+ app across partner mobile and connected TV devices. Disney+ will launch in the U.S., Canada and the Netherlands on November 12. Corporate America is committed to providing long-term economic benefit to all people rather than focusing on just shareholders' interests, Business Roundtable said Monday. The updated statement on the "purpose of a corporation" moves away from the principles of shareholder primacy that has been endorsed since 1997, and redefines corporate responsibility. Club Car, a unit of Ingersoll Rand Inc., withdrew 12,313 gas utility and transport vehicles in two recalls over concerns of fire and burn hazards due to fuel leak. These include about 2,013 vehicles that were sold in Canada. Club Car makes electric and gas-powered golf cars and utility task vehicles (UTVs) for personal and commercial use.
Follow RTT