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Interpublic Group of Companies, Inc. (The) (IPG) - free report >>
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Interpublic Group of Companies, Inc. (The) (IPG) - free report >>
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Interpublic (IPG) Beats on Both Q3 Earnings & Revenues
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 on three occasions, registering a positive average earnings surprise of 29.74%.
Currently, IPG has a Zacks Rank #3 (Hold), 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 comfortably beat on earnings. The Company reported adjusted EPS of 31 cents, while the Zacks Consensus Estimate was 28 cents.
Revenue: Revenues beat, as IPG reported revenues of $1,922.2 million, compared to Zacks Consensus Estimate of $1,903 million.
INTERPUBLIC GRP Price and EPS Surprise
INTERPUBLIC GRP Price and EPS Surprise | INTERPUBLIC GRP Quote
Key Stats to Note: IPG achieved healthy organic growth of 4.3% in the reported quarter. During the reported quarter, the company repurchased 3.5 million shares of its shares worth $80.8 million. For the third quarter, the company declared and paid a cash dividend of 15 cents per share, for a total of $59.5 million. The company raised its full-year organic growth target to a range of 4%-5%.
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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