The Interpublic Group of Companies, Inc. (IPG Quick QuoteIPG - Free Report) reported first-quarter 2022 earnings per share of 47 cents (on an adjusted basis) which beat the Zacks Consensus Estimate by 17.5%. Earnings increased on a year over year basis.

How Was the Estimate Revision Trend?

Investors should note that the Zacks Consensus Estimate for Interpublic’s first-quarter 2022 earnings of 40 cents per share remained unchanged over the last 60 days.

The company has an impressive earnings history having outperformed the Zacks Consensus Estimate in all of the last four quarters with an average beat of 67%.

Interpublic Group of Companies, Inc. The Price

Interpublic Group of Companies, Inc. The price | Interpublic Group of Companies, Inc. The Quote

Revenues Higher Than Expected

Interpublic recorded total revenues of $2.23 billion which surpassed the Zacks Consensus Estimate of $2.2 billion. However, revenues compared unfavorably with the year-ago figure.

Key Stats to Note:  Interpublic had cash and cash equivalents of $2.40 billion compared with $3.27 billion at the end of the prior quarter. Total operating expenses of $2.32 billion decreased 15.3% year over year.

Zacks Rank: Currently, Interpublic has a Zacks Rank #2 (Buy) but that could change following the company’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Check back later for our full write up on these Interpublic earnings report later!