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Interpublic (IPG) Missed on Q2 Revenues, Earnings in-Line

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New York-based The Interpublic Group of Companies, Inc. (IPG - Free Report) is the third largest advertising company in the world. IPG has made a name for itself with its digital capabilities, diversified business model and geographic reach.

However, IPG forms an integral part of the communications industry, which is highly competitive in nature and is susceptible to market risks of losing contracts related to media purchases and production costs. With intensifying competition for ad dollars and adverse currency translation effects gradually shrinking margins, investors have been eagerly waiting for the company’s latest earnings report.

In the last four trailing quarters, IPG has managed to beat estimates all four times, registering a positive average earnings surprise of 31.59%.

INTERPUBLIC GRP Price, Consensus and EPS Surprise

INTERPUBLIC GRP Price, Consensus and EPS Surprise | INTERPUBLIC GRP Quote

Currently, IPG has a Zacks Rank #4 (Sell), but that could definitely change following latest earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: IPG reported adjusted EPS of 33 cents, in-line with the Zacks Consensus Estimate.

Revenue: Revenues missed, as IPG reported revenues of $1,917.9 million, compared to Zacks Consensus Estimate of $1,934 million.

Key Stats to Note: IPG achieved organic growth of 3.7% in the reported quarter. During the reported quarter, the company repurchased 2.5 million shares of its shares worth $58.8 million. For the second quarter, the company paid a cash dividend of 15 cents per share, for a total of $60.2 million. IPG also reiterated its full year financial targets.

Stock Price: Shares did not show any change in the pre-market trading following the release at the time of this write-up.

Check back our full write up on this IPG earnings report later!

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