Interpublic Group of Companies, Inc. (NYSE:IPG) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Interpublic Group of Companies, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 18.18% to $0.18 in the quarter versus EPS of $0.22 in the year-earlier quarter.
Revenue: Rose 2.35% to $1.76 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Interpublic Group of Companies, Inc. reported adjusted EPS income of $0.18 per share. By that measure, the company missed the mean analyst estimate of $0.22. It beat the average revenue estimate of $1.75 billion.
Quoting Management: “We are well positioned to support marketers in today`s complex media and consumer landscape, which is reflected in our continued positive new business momentum. Our digital capabilities across the portfolio are strong, as is our presence in high-growth emerging markets at all our major networks,” said Michael I. Roth, Interpublic`s Chairman and CEO. “These are the factors that are driving solid organic revenue growth. Our primary focus for the balance of the year will be on controlling costs and delivering a high level of revenue conversion. We remain committed to our full year 2013 financial objectives of 2-3% organic revenue growth and 50 basis points of margin improvement. The significant deleveraging that we have achieved and the strength of our balance sheet provide additional, powerful levers that allow us to support the strategic needs of our business and also return capital to our owners. This combination will drive enhanced shareholder value going forward.
Key Stats (on next page)…